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
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter