UBS drew a line under four straight quarters of outflows from its asset management arm as the unit raked in Sfr2.5 billion in net inflows in the third quarter thanks to a Sfr10 billion swing in fixed income.

The Swiss bank, which reported its third-quarter results on October 28, had seen outflows from its asset management arm in every quarter since the Sfr9 billion inflows generated in the three months to June 30, 2015, but in its latest results it revealed the trend had halted.