UBS - Business Group Reporting


John A. Fraser \| Chairman and CEO Global Asset Management

Global Asset Management's pre-tax profit was CHF 404 million in first quarter 2007, up 1% from CHF 400 million in fourth quarter 2006. This largely reflected the increased average asset base, which led to higher management fees across the business.

Search only in Quarterly Reporting Q1 2007

Spreadsheets

Business Group reporting

Business Group reporting
	As of or for the quarter ended			% change from
CHF million, except where indicated	31.3.07	31.12.06	31.3.06	4Q06	1Q06
Institutional fees	585	570	462	3	27
Wholesale Intermediary fees	412	373	347	10	19
Total operating income	997	943	809	6	23
Cash components	364	419	293	(13)	24
Share-based components ¹	59	65	24	(9)	146
Total personnel expenses	423	484	317	(13)	33
General and administrative expenses	115	133	84	(14)	37
Services (to) / from other business units	43	(87)	29		48
Depreciation of property and equipment	7	10	5	(30)	40
Amortization of intangible assets	5	3	0	67
Total operating expenses	593	543	435	9	36
Business Group performance before tax	404	400	374	1	8

KPI
Cost / income ratio (%) ²	59.5	57.6	53.8

Institutional
Invested assets (CHF billion)	528	519	466	2	13
of which: money market funds	23	28	18	(18)	28
Net new money (CHF billion) ³	2.7	5.2	7.1
of which: money market funds	*(3.9)*	0.7	2.0
Gross margin on invested assets (bps) ⁴	45	45	41	0	10
1 Additionally includes social security contributions and expenses related to alternative investment awards. 2 Operating expenses / operating income. 3 Excludes interest and dividend income. 4 Operating income (annualized) / average invested assets.

Business Group reporting
	As of or for the quarter ended			% change from
CHF million, except where indicated	31.3.07	31.12.06	31.3.06	4Q06	1Q06

Wholesale Intermediary
Invested assets (CHF billion)	355	347	335	2	6
of which: money market funds	58	59	61	(2)	(5)
Net new money (CHF billion) ¹	2.6	0.3	5.5
of which: money market funds	*(1.9)*	(0.9)	(1.0)
Gross margin on invested assets (bps) ²	47	43	42	9	12

Capital return and BIS data
Return on allocated regulatory capital (%) ³	82.7	84.8	93.5
BIS risk-weighted assets	2,757	2,723	1,765	1	56
Goodwill and excess intangible assets ⁴	1,684	1,677	1,427	0	18
Allocated regulatory capital ⁵	1,960	1,949	1,604	1	22

Additional information
Invested assets (CHF billion)	883	866	801	2	10
Net new money (CHF billion) ¹	5.3	5.5	12.6
Personnel (full-time equivalents)	3,511	3,436	2,929	2	20
1 Excludes interest and dividend income. 2 Operating income (annualized) / average invested assets. 3 Year to date Business Group performance before tax (annualized as applicable) / allocated regulatory capital year to date average. 4 Goodwill and intangible assets in excess of 4% of BIS Tier 1 Capital. 5 10% of BIS risk-weighted assets plus goodwill and excess intangible assets.

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Global Asset Management

Business Group reporting