UBS Global Asset Management reports positive third quarter profits

UBS 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

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

LATEST SURVEY

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST