UBS Global Asset Management reports positive third quarter profits

UBS branchUBS Global Asset Management (UBS GAM) has reported its highest profit before tax in six quarters, CHF 151 million (€125 million). The profit, released in its third quarter results today, is CHF 44 million higher than in the previous quarter. The figure is adjusted for charges for litigation and similar matters. Net management fees increased, mainly for traditional investments and also for real estate, though performance fees declined. The asset manager's net new money inflow of CHF 3.8 billion was below the prior quarter's figure of CHF 11.6 billion. At group level, the Swiss bank's quarterly profit for shareholders is CHF 762 million, including costs for litigation and regulator matters. Group chief Executive officer, Sergio P. Ermotti, says: "I am very pleased with our underlying performance for the quarter, which again demonstrates the strength of our franchise. At the same time, we are actively addressing litigation and regulatory matters. "Three years since introducing our strategy, the business is far stronger, its earnings power is much greater and our absolute and relative capital position speaks for itself. That gives us every confidence in our ability to deliver on our capital returns policy." ©2014 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.