Geneva-based Union Bancaire Privee said attracting private clients into traditional asset classes bolstered net new money flows by SFr4bn in the first half of 2009.

UBP, which was hit by exposure to the Madoff scandal and the world-wide sell off in fund of hedge fund investments, said assets in its alternative investment products shrank to SFr25.7bn at the end of the first half from SFr45.4bn at the end of last year.