Key Takeaways
- • Galaxy Digital Asset Management (GDAM), the asset management affiliate of Galaxy Digital Holdings (TSX: GLXY), reported preliminary assets under management of $2,873.2 million as of December 31, 2021.
- • GDAM's AUM fell roughly 17% from $3,470.7 million at November 30, 2021, reversing the prior month's increase from $3,183.5 million at October 31, 2021.
- • Year-over-year AUM grew from $807.3 million at December 31, 2020 to $2,873.2 million, a figure that reflects performance, contributions, withdrawals, and acquisitions.
- • The December 2021 figure is preliminary and unaudited; figures through December 31, 2020 are audited.
Summary
Galaxy Digital Holdings Ltd. announced through a PR Newswire Canada release dated January 7, 2022 that its affiliate, Galaxy Digital Asset Management, reported preliminary assets under management of $2,873.2 million as of December 31, 2021. All figures in the release are in U.S. dollars.
The month-end figure represents a decline from $3,470.7 million at November 30, 2021, a drop of approximately $597.5 million or about 17% over the month. The reported AUM for October 31, 2021 was $3,183.5 million, and September 30, 2021 stood at $2,232.8 million, indicating a series of substantial month-to-month fluctuations across the second half of 2021. The company attributes changes in AUM generally to performance, contributions, withdrawals, and acquisitions.
Over the longer horizon, AUM rose from $807.3 million at December 31, 2020, and the release shows a 2021 path that included a low of $834.7 million at January 31, 2021 and a peak of $3,470.7 million at November 30, 2021 within the reported period. Figures through December 31, 2020 are audited, while all other figures in the table are unaudited.
The release notes that AUM is inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, and fund of fund products. Preliminary AUM for the GVH Multi-Strategy FOF LP and GVH Market Neutral FOF LP, which launched in October 2021, is based on management's most recent estimate.
GDAM operates two business lines, Galaxy Fund Management and Galaxy Interactive, and is described as a diversified asset management firm focused on digital assets and blockchain technology. Galaxy Digital is led by founder and CEO Mike Novogratz and operates across trading, asset management, principal investments, investment banking, and mining. Contacts listed in the release include Stephen Kurz, Head of Asset Management, and investor relations representatives Elsa Ballard and Steven Wald.
The month-end figure represents a decline from $3,470.7 million at November 30, 2021, a drop of approximately $597.5 million or about 17% over the month. The reported AUM for October 31, 2021 was $3,183.5 million, and September 30, 2021 stood at $2,232.8 million, indicating a series of substantial month-to-month fluctuations across the second half of 2021. The company attributes changes in AUM generally to performance, contributions, withdrawals, and acquisitions.
Over the longer horizon, AUM rose from $807.3 million at December 31, 2020, and the release shows a 2021 path that included a low of $834.7 million at January 31, 2021 and a peak of $3,470.7 million at November 30, 2021 within the reported period. Figures through December 31, 2020 are audited, while all other figures in the table are unaudited.
The release notes that AUM is inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, and fund of fund products. Preliminary AUM for the GVH Multi-Strategy FOF LP and GVH Market Neutral FOF LP, which launched in October 2021, is based on management's most recent estimate.
GDAM operates two business lines, Galaxy Fund Management and Galaxy Interactive, and is described as a diversified asset management firm focused on digital assets and blockchain technology. Galaxy Digital is led by founder and CEO Mike Novogratz and operates across trading, asset management, principal investments, investment banking, and mining. Contacts listed in the release include Stephen Kurz, Head of Asset Management, and investor relations representatives Elsa Ballard and Steven Wald.
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