Assets under management

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in CHF millions

 

31.12.2018

 

31.12.2017

 

+/− %

Assets in own-managed funds

 

6'212

 

4'840

 

28.3

Assets with discretionary mandates

 

7'955

 

7'197

 

10.5

Other assets under management

 

53'123

 

38'215

 

39.0

Total assets under management

 

67'290

 

50'252

 

33.9

 

 

 

 

 

 

 

of which double counting

 

5'067

 

4'295

 

18.0

(XLS:) Download

in CHF millions

 

2018

 

2017

 

+/− %

*

Including double counting.

**

Including interest and dividend income.

Total assets under management as at 1 January *

 

50'252

 

46'428

 

8.2

Net new money

 

1'278

 

470

 

 

Market and currency effects **

 

–4'681

 

3'354

 

 

Other effects (incl. reclassifications)

 

20'442

 

0

 

 

Total assets under management as at 31 December *

 

67'290

 

50'252

 

33.9

(XLS:) Download
Breakdown of assets under management

in per cent

 

31.12.2018

 

31.12.2017

By asset class

 

 

 

 

Equities

 

19

 

24

Bonds

 

21

 

17

Investment funds

 

30

 

26

Liquidity

 

24

 

30

Precious metals / others

 

5

 

4

Total

 

100

 

100

 

 

 

 

 

By currency

 

 

 

 

CHF

 

32

 

44

EUR

 

39

 

24

USD

 

22

 

24

Others

 

7

 

7

Total

 

100

 

100

Calculation method

Assets under management comprise all client assets managed or held for investment purposes. Basically, these include all balances due to customers, fiduciary time deposits and all valued portfolio assets.

Also included are other types of client assets which can be deduced from the principle of the investment purpose. Custody assets (assets held solely for transaction and safekeeping purposes) are not included in assets under management.

Assets in own-managed funds

This item comprises the assets of the LLB Group’s own investment funds.

Assets with discretionary mandates

Securities, value rights, precious metals, the market value of fiduciary investments with third parties and customer deposits are included in the calculation of assets with discretionary mandates. The figures comprise both assets deposited with Group companies and assets deposited with third parties, for which the Group companies hold a discretionary mandate.

Other assets under management

Securities, value rights, precious metals, the market value of fiduciary investments with third parties and customer deposits are included in the calculation of other assets under management. The figures comprise assets for which an administration or advisory mandate is exercised.

Double counting

This item comprises fund units in own-managed funds which are contained in client portfolios with discretionary mandates and in other client safekeeping accounts.

Net new money

This position is composed of the acquisition of new clients, lost client accounts and inflows or outflows from existing clients. Performance-related asset fluctuations, e.g. price changes, interest and dividend payments including interest, commissions and expenses charged to client accounts, are not regarded as inflows or outflows. Acquisition-related changes to assets will also not be considered.

Other effects

An amount of CHF 290 million net was reclassified from assets under management to custody assets in the year under report.

As a result of the takeover of Semper Constantia a one-time net new money increase of CHF 20'732 million occurred.