UBS - Business Group reporting

Global Asset Management’s pre-tax profit was CHF 308 million in third quarter 2005 – a quarterly record – and 40% above the CHF 220 million reported in second quarter. Increasing asset-based fees reflected strong net new money growth in this and preceding quarters as well as improving financial markets. Strong performance fees from alternative and quantitative investments also contributed to our outstanding result.

Search only in Quarterly Reporting Q3 2005

Spreadsheets

Business Group reporting

	Quarter ended			% change from		Year to date

CHF million, except where indicated	30.9.05	30.6.05	30.9.04	2Q05	3Q04	30.9.05	30.9.04


Institutional fees	363	279	254	30	43	942	798
Wholesale Intermediary fees	308	270	237	14	30	847	698


Total operating income	671	549	491	22	37	1,789	1,496


Cash components	239	189	214	26	12	658	635
Share-based components	22	21	15	5	47	64	52


Total personnel expenses	261	210	229	24	14	722	687
General and administrative expenses	73	80	90	(9)	(19)	215	208
Services to / from other business units	24	34	30	(29)	(20)	85	96
Depreciation of property and equipment	5	5	5	0	0	15	17
Amortization of goodwill	0	0	32		(100)	0	98
Amortization of other intangible assets	0	0	0			0	0


Total operating expenses	363	329	386	10	(6)	1,037	1,106


Business Group performance before tax	308	220	105	40	193	752	390


Business Group performance before tax and amortization of goodwill	308	220	137	40	125	752	488
KPIs

Cost / income ratio (%)¹	54.1	59.9	78.6			58.0	73.9
Cost / income ratio before goodwill (%)¹	54.1	59.9	72.1			58.0	67.4
Institutional

Invested assets (CHF billion)	425	396	342	7	24
of which: money market funds	17	18	19	(6)	(11)
Net new money (CHF billion)²	9.2	2.7	3.0			17.0	20.7
of which: money market funds	(1.5)	(1.5)	(0.2)			(2.1)	(0.7)
Gross margin on invested assets (bps)³	35	29	30	21	17	33	32
Wholesale Intermediary

Invested assets (CHF billion)	312	290	259	8	20
of which: money market funds	62	63	71	(2)	(13)
Net new money (CHF billion)⁴	10.7	6.2	1.0			21.6	(5.0)
of which: money market funds	(1.6)	(4.5)	(2.6)			(8.6)	(17.3)
Gross margin on invested assets (bps)⁵	41	39	37	5	11	40	36
Capital return and BIS data

Return on adjusted regulatory capital (%)⁶						67.4	33.6
Return on adjusted regulatory capital before goodwill (%)⁶						67.4	42.0
BIS risk-weighted assets (CHF million)	1,573	1,629	1,761	(3)	(11)
Goodwill (CHF million)	1,418	1,389	1,318	2	8
Adjusted regulatory capital (CHF million)⁷	1,575	1,552	1,494	1	5

Additional Information	As at			% change from

	30.9.05	30.6.05	30.9.04	30.6.05	30.9.04


Client assets (CHF billion)	737	686	601	7	23
Personnel (full-time equivalents)	2,797	2,719	2,639	3	6

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