GLOBAL - UBS Global Asset Management has reported total net new money inflows of CHF49.5bn (e31.8bn) in 2005, up 158% on the previous year.
In the institutional business, UBS said inflows increased into traditional investments but decreased into alternative and quantitative investments.
According to its 2005 financial report, full year pre-tax profit was CHF1.05bn, up from CHF681m the previous year, reflecting, in part, strong inflows from institutional clients.
Pre-tax profit in the fourth quarter was CHF305m, a marginal decline of 1% compared with the third quarter.
In Q4, income grew on strong asset-based revenues in the wealth and asset management businesses, reflecting rising financial markets, especially in the latter part of the year, and strong money inflows from clients.
Total net inflows of new money were CHF31.2bn in Q4, down from CHF50.8bn in the third quarter.
“All our businesses put in a stronger performance in 2005,” said Clive Standish, CFO. “We saw really constructive developments with revenues growing much faster than costs.”
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