Mirabaud, a Swiss wealth and asset management group, has posted consolidated net income of CHF27.1m for the 2015 financial year, a decline of 16% compared to 2014.
Revenue for the year was CHF291.1m, a decline of 8% from the prior year.
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The group’s total assets under management (AuM) at 31 December 2015 were CHF32.8bn, which included CHF3.6bn of double-counted assets and CHF1.9bn in institutional deposits.
Of the total AuM, CHF8.5bn was managed by asset management while CHF24.3bn was managed by wealth management.
Operating expenses before depreciation and tax stood at CHF250.5m for 2015, the company said in its earnings statement.
Mirabaud senior managing partner Yves Mirabaud said: "In spite of a challenging environment in 2015 due to negative interest rates, fluctuating exchange rates and lower volumes on the brokerage market, our results reflect the impressive performance of our Wealth Management and Asset Management businesses.
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By GlobalData"We recorded inflows of net new money in all the countries in which we operate, including Switzerland, which proves that our financial market is still attractive."
