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 firms 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 item.