UBS Global Asset Management saw pre-tax profits jump by 55% to Sfr1.05bn (€674m) last year, reflecting strong new inflows from institutional clients and a sharp rise in fees from managing assets.

Total net new money for the full year was Sfr49.5bn, up 158% from inflows of Sfr19.2bn in 2004, when the wholesale business was affected by the last major transfers of client funds to a US subsidiary