Investment Policy
Long-term capital growth focused on equity securities.
Annualized Results
GAM investment results relative to the S&P 500.
Five-Year Results
NAV and stockholder returns assuming a $10,000 initial investment.
Twenty-Year Results
NAV and stockholder returns assuming a $10,000 initial investment.
Premium/Discount History
GAM share price relative to NAV, over the past 12 months (weekly) and 10 years (quarterly).
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Shares of the Company’s Common Stock usually sell at a discount from their underlying net asset value (NAV) as do the shares of most other domestic equity closed-end funds. Periodically, the shares sell at a premium over NAV. The following chart shows the premium or discount at the end of each business week during the past year. The table below the chart shows information, including the premium or discount at the end of each quarter during the past 10 years.
July 2007 - July 2008
1998-2008
Date
|
Net Asset Value |
Market Price
|
Premium/(Discount)
|
|
06/30/1998
|
$34.57 |
$30.44
|
(12.00%)
|
|
09/30/1998
|
$31.78 |
$29.00
|
(8.70%)
|
|
12/31/1998
|
$34.87 |
$30.44
|
(12.71%)
|
|
03/31/1999
|
$34.26 |
$31.56
|
(7.90%)
|
|
06/30/1999
|
$36.56 |
$32.75
|
(10.42%)
|
|
09/30/1999
|
$35.55 |
$32.56
|
(8.40%)
|
|
12/31/1999
|
$41.74 |
$37.19
|
(10.89%)
|
|
03/31/2000
|
$43.39 |
$39.38
|
(9.25%)
|
|
06/30/2000
|
$42.03 |
$39.19
|
(6.67%)
|
|
09/30/2000
|
$45.40 |
$41.81
|
(7.90%)
|
|
12/31/2000
|
$39.91 |
$36.00
|
(9.80%)
|
|
03/31/2001
|
$35.76 |
$34.00
|
(4.92%)
|
|
06/30/2001
|
$37.97 |
$37.71
|
(0.68%)
|
|
09/30/2001
|
$33.68 |
$31.55
|
(6.32%)
|
|
12/31/2001
|
$35.14 |
$33.47
|
(4.75%)
|
|
03/31/2002
|
$34.04 |
$32.98
|
(3.11%)
|
|
06/30/2002
|
$30.08 |
$27.70
|
(7.91%)
|
|
09/30/2002
|
$25.77 |
$23.50
|
(8.81%)
|
|
12/31/2002
|
$26.48 |
$23.85
|
(9.93%)
|
|
03/31/2003
|
$25.94 |
$23.25
|
(10.37%)
|
|
06/30/2003
|
$30.15 |
$27.44
|
(8.99%)
|
|
09/30/2003
|
$30.51 |
$27.49
|
(9.90%)
|
|
12/31/2003
|
$33.11 |
$29.73
|
(10.21%)
|
|
03/31/2004
|
$33.81 |
$30.35
|
(10.23%)
|
|
06/30/2004
|
$33.65 |
$30.14
|
(10.43%)
|
|
09/30/2004
|
$33.25 |
$29.53
|
(11.19%)
|
|
12/31/2004
|
$35.49 |
$31.32
|
(11.75%)
|
|
03/31/2005
|
$35.10 |
$30.87
|
(12.05%)
|
|
06/30/2005
|
$37.27 |
$32.00
|
(14.14%)
|
|
09/30/2005
|
$39.88 |
$34.83
|
(12.66%)
|
|
12/31/2005
|
$39.00 |
$34.54
|
(11.44%)
|
|
03/31/2006
|
$40.76 |
$37.84
|
(7.16%)
|
|
06/30/2006
|
$39.52 |
$36.10
|
(8.65%)
|
|
09/30/2006
|
$40.86 |
$37.66
|
(7.83%)
|
|
12/31/2006
|
$40.54 |
$37.12
|
(8.44%)
|
|
03/31/2007
|
$41.00 |
$36.84
|
(10.12%)
|
|
06/30/2007
|
$45.14 |
$40.55
|
(10.17%)
|
|
09/30/2007
|
$45.94 |
$40.77
|
(11.25%)
|
|
12/31/2007
|
$38.10 |
$34.70
|
(8.92%)
|
|
03/31/2008
|
$36.10 |
$31.79
|
(11.94%)
|
|
06/30/2008
|
$36.15 |
$32.36
|
(10.48%)
|
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