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February 4, 2014updated 04 Apr 2017 2:32pm

UBS Wealth Management net inflow up 14%

UBS' wealth management arm saw CHF 54 billion (£36.7 billion) in 2013, a 14% increase from the same period last year.

By Patrick Brusnahan

UBS’ wealth management arm saw CHF 54 billion (£36.7 billion) in 2013, a 14% increase from the same period last year.

Much of this performance, which also beat analysts’ fourth quarter forecasts, was down to strong inflows from the Asia pacific region and high net worth investors worldwide.

In addition, pretax profit rose 17% to CHF 2.4 billion. This aided the bank as a whole, including the investment and asset management divisions, to record a 44% increase in full year profit to CHF 4.1 billion.

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. 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."

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