GAM Holding AG reports that assets under management rebounded between June and October, although inflows were mainly into low margin products with alternative products still under pressure.

GAM, which began trading as a separate company in October after splitting from Swiss bank Julius Baer, said the main driver of the rise in assets was its new fixed income range in the Swiss and Global Asset Management unit.

'Clients continue to invest primarily into the range of attractive fixed income and commodity products, while not yet re-committing to equities,' the group said in an interim statement on Tuesday.

Assets in the GAM unit climbed to 52 billion francs from 49 billion francs after falling precipitously during the financial crisis. In the second half of 2008 alone outflows from GAM hit 24.5 billion francs, and were particularly pronounced in the funds of hedge funds segment.