Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

UBS wealth arm posts £37bn 2013 inflow

UBS wealth arm posts £37bn 2013 inflow

UBS's wealth management business recorded a Chf54 billion (£36.7 billion) net inflow in 2013.

This was an increase of 14% on the previous year, with the group attributing the performance to strong inflows from Asia Pacific and high net worth investors across the globe.

Adjusted pretax profit in the division was 17% higher at Chf2.4 billion.  

This helped  the wider bank, which includes the investment and asset management divisions, register a 44% increase in full-year profit to Chf4.1 billion.

UBS expects its wealth management business to play a vital role in its prospects for 2014 as the outlook remains uncertain. The economic tension, it warns, could have a detrimental impact on earnings as traditional  improvements in first quarter trading volumes fail to materialise.    

In a statement the bank said: 'At the start of the first quarter of 2014, many of the underlying challenges and geopolitical issues that we have previously highlighted remain.

It added: 'The continued absence of sustained and credible improvements to unresolved issues in Europe, continuing US fiscal and monetary policy issues, emerging markets fragility and the mixed outlook for global growth would make improvements in prevailing market conditions unlikely.'  

'Despite possible headwinds, we expect that our wealth management businesses will continue to attract net new money, reflecting new and existing clients’ steadfast trust in the firm.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter