Assets under Management

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in CHF millions

31.12.2014

31.12.2013

+/– %

Assets in own-managed funds

4'528

4'205

7.7

Assets with discretionary mandates

8'577

8'275

3.7

Other assets under management

37'113

36'624

1.3

Total assets under management (incl. Double counting)

50'218

49'104

2.3

 

 

 

 

of which double counting

4'102

3'794

8.1

 

 

 

 

Net new money

−350

−2'167

−83.9

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Breakdown of assets under management

in percent

31.12.2014

31.12.2013

By asset classes

 

 

Equities

23.0

22.5

Bonds

18.5

18.2

Investment funds

25.2

23.7

Liquidity

30.5

32.2

Precious metal / others

2.8

3.4

Total

100.0

100.0

 

 

 

By currencies

 

 

CHF

43.7

44.1

EUR

25.3

26.8

USD

23.9

21.9

Other

7.1

7.2

Total

100.0

100.0

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 safe-keeping 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 safe-keeping 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 gains, interest and dividend payments including interest, commissions and expenses charged to client accounts, are not regarded as inflows or outflows. In the year under report, CHF 133 million were reclassified from assets under management to custody assets.

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