Institutional Clients
Information checkedInformation unaudited Information geprüft Information ungeprüft Institutional Clients
The Institutional Clients Division encompasses the intermediary and investment fund business, as well as asset management services. The LLB Group unites four investment fund management companies under one corporate roof. In its three home markets of Liechtenstein, Austria and Switzerland, it operates as a dynamic, versatile fund powerhouse. The focus lies on providing private label fund solutions. Our team of experts for the care of fiduciaries, external asset managers, insurance companies and public institutions are characterised by their holistic, partner-like client focus. LLB Asset Management AG fulfils a central role within the LLB Group. Its award-winning, outstanding investment competence is one of the Group's great strengths.
Business segment result
At CHF 33.2 million, the profit before tax of the Institutional Clients Segment was higher than in the equivalent period of the previous year. Operating expenses remained at the same level while operating income rose by 4.8 per cent to CHF 66.6 million. Interest income was adversely influenced by the persisting low level of interest rates. Fee and commission income benefitted significantly from the higher volume of client assets, increasing to CHF 52.9 million.
With net new money inflows of CHF 1.5 billion, the Segment substantially exceeded the inflows of the previous year, especially in investment fund business. The business volume increased by 12.7 per cent to CHF 59.6 million.
Segment reporting
|
in CHF thousands |
First half 2021 |
First half 2020 |
+ / – % |
|
Net interest income |
6'249 |
9'430 |
– 33.7 |
|
Expected credit losses |
– 49 |
– 3'198 |
– 98.5 |
|
Net interest income after expected credit losses |
6'200 |
6'232 |
– 0.5 |
|
Net fee and commission income |
52'891 |
49'293 |
7.3 |
|
Net trading income |
7'504 |
8'023 |
– 6.5 |
|
Other income |
1 |
1 |
– 26.7 |
|
Total operating income |
66'596 |
63'549 |
4.8 |
|
Personnel expenses |
– 16'489 |
– 15'989 |
3.1 |
|
General and administrative expenses |
– 2'289 |
– 2'694 |
– 15.0 |
|
Depreciation |
– 195 |
– 190 |
2.4 |
|
Services (from) / to segments |
– 14'403 |
– 14'501 |
– 0.7 |
|
Total operating expenses |
– 33'375 |
– 33'374 |
0.0 |
|
Segment profit before tax |
33'220 |
30'175 |
10.1 |
Performance figures
|
|
First half 2021 |
First half 2020 |
|
Gross margin (in basis points) * |
23.4 |
28.3 |
|
Cost Income Ratio (in per cent) * |
50.1 |
50.0 |
|
Net new money (in CHF millions) * |
1'470 |
435 |
|
Growth of net new money (in per cent) * |
2.8 |
0.9 |
* Definition available under www.llb.li/investors-apm
Additional information
|
|
30.06.2021 |
31.12.2020 |
+ / – % |
|
Business volume (in CHF millions) * |
59'556 |
52'836 |
12.7 |
|
Assets under management (in CHF millions) * |
59'074 |
52'348 |
12.8 |
|
Loans (in CHF millions) |
482 |
488 |
– 1.3 |
|
Employees (full-time equivalents, in positions) |
170 |
179 |
– 4.7 |
* Definition available under www.llb.li/investors-apm