CLARIFICATION: The net flow of new institutional assets into UBS Asset Management reported in the Aug. 14 P&I Daily was for the quarter ended June 30.
In addition, the firm’s institutional assets under management at the end of June 2000 were 317 billion Swiss francs ($191 billion), excluding assets managed by GAM. That number was incorrect in the item; the number changed because of a change in reporting procedures and restructuring over the last year.
Net client losses for the second quarter of 2000 were 20 billion francs. The timeframe was unclear in the original item.
