Key Takeaways
- • Galaxy Asset Management reported $5.7 billion in preliminary AUM as of December 31, 2024, representing a 6.5% month-over-month decline from $6.087 billion in November 2024.
- • Funds AUM decreased to $5.178 billion in December from $5.577 billion in November, driven by market depreciation and net outflows from GAM's Passive Funds portfolio.
- • Opportunistic AUM remained relatively stable at $511 million in December 2024, compared to $510 million in November, indicating contained near-term and mid-term portfolio unwinding activity.
- • Galaxy Digital will transition to quarterly AUM reporting, discontinuing monthly disclosure cadence effective immediately and publishing figures only as part of earnings releases going forward.
- • Year-over-year growth remains positive, with total AUM of $5.689 billion at December 31, 2024 representing a 22.7% increase from $4.636 billion at September 30, 2024, though November's peak of $6.087 billion demonstrates recent momentum loss.
Summary
Galaxy Digital Holdings Ltd. announced that its affiliate Galaxy Asset Management reported preliminary assets under management of $5.7 billion as of December 31, 2024. The month-end figure reflects a 6.5% sequential decline from November 2024's $6.087 billion, primarily attributable to market depreciation and net outflows from GAM's Passive Funds, according to the January 21, 2025 announcement.
The AUM composition breaks down into two segments: Funds, which encompasses Passive, Active, and Venture funds, and Opportunistic assets representing near-term or mid-term portfolio unwinding engagements. Funds AUM declined to $5.178 billion from November's $5.577 billion, while Opportunistic AUM remained stable at $511 million. The sequential month decline reverses the positive trend observed during the third and early fourth quarter of 2024, when AUM had grown from $4.636 billion in September to $6.087 billion by November.
Despite the December pullback, Galaxy Asset Management's AUM has demonstrated substantial expansion on a quarterly basis. From September 30, 2024 to December 31, 2024, total AUM increased 22.7%, signaling underlying growth in the asset management business despite recent headwinds. The AUM figures are inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, separately managed accounts, and fund of fund products, reflecting the breadth of GAM's institutional platform.
Notably, Galaxy Digital announced it will discontinue monthly AUM releases, shifting to quarterly publication aligned with the company's earnings announcements. This transition in reporting cadence takes effect immediately, with future asset management metrics to be disclosed only in connection with quarterly financial results. This change may streamline communication while reducing reporting frequency for institutional investors and stakeholders monitoring the digital assets and alternative investment manager.
The AUM composition breaks down into two segments: Funds, which encompasses Passive, Active, and Venture funds, and Opportunistic assets representing near-term or mid-term portfolio unwinding engagements. Funds AUM declined to $5.178 billion from November's $5.577 billion, while Opportunistic AUM remained stable at $511 million. The sequential month decline reverses the positive trend observed during the third and early fourth quarter of 2024, when AUM had grown from $4.636 billion in September to $6.087 billion by November.
Despite the December pullback, Galaxy Asset Management's AUM has demonstrated substantial expansion on a quarterly basis. From September 30, 2024 to December 31, 2024, total AUM increased 22.7%, signaling underlying growth in the asset management business despite recent headwinds. The AUM figures are inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, separately managed accounts, and fund of fund products, reflecting the breadth of GAM's institutional platform.
Notably, Galaxy Digital announced it will discontinue monthly AUM releases, shifting to quarterly publication aligned with the company's earnings announcements. This transition in reporting cadence takes effect immediately, with future asset management metrics to be disclosed only in connection with quarterly financial results. This change may streamline communication while reducing reporting frequency for institutional investors and stakeholders monitoring the digital assets and alternative investment manager.
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