Pictet posts CHF462bn AUM in 2016
Swiss financial group Pictet has reported assets under management or custody of CHF462bn (€433.5bn) as of 31 December 2016, up CHF25bn (€23.4bn) from 1 January 2016.
Net new inflows amounted to CHF12.4bn (€11.6bn).
Also Pictet has seen a 2% rise in operating income to CHF2.17bn (€2.03bn), and a 7% fall in consolidated profit to CHF422m (€395.8m).
The group fully complies with capital ratio and liquidity coverage ratio requirements from Basel III’s regulation.
The core tier 1 capital ratio is 20.4% (minimum required is 4.5%) while the liquidity coverage ratio is 166% (minimum required is 100%), both at 31 December 2016.
Senior managing partner Nicolas Pictet said: “In 2016 we have seen encouragingly strong net inflows of new money on both the wealth and the asset management side, and although market conditions remain demanding, we believe we are in a strong competitive position.”
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