Sections

UBS says it gains E4bn in institutional assets

Related Categories

GLOBAL – UBS added 6.3 billion Swiss francs (four billion euros) in institutional assets under management in the third quarter of this year.

The bank said asset management is part of a “stable core” which helps offset market volatility.

“In institutional asset management, UBS recorded an inflow of 6.3 billion francs, the highest since 2000,” the Swiss bank said in its third-quarter earnings report.

The figure compares to a net inflow of 1.1 billion francs in the second quarter – and a net outflow of 3.6 billion francs a year before. UBS said the gain reflected inflows into alternative investments, equities and asset allocation mandates.

UBS Global Asset Management recorded a pre-tax profit of 87 million francs, two percent down on the second quarter.

“Throughout the year, market conditions have fluctuated, with trading opportunities shifting from one area to another,” UBS said.

“UBS has proven to be well-positioned capture those opportunities at the right times. Its diversified revenue mix – with a stable core of wealth and asset management income – helped contain market-driven volatility.”

UBS’s total net income rose 78% to 1.67 billion francs from 942 million francs a year ago. The bank’s total headcount was down four percent on the start of the year, at 66,153.

Have your say

You must sign in to make a comment