UBS Global Asset Management reported $650 billion in assets under management as of March 31, a 5% increase from the previous quarter, according to a company news release. For the year, assets under management increased by 26%, according to figures in UBS' first quarter report.
UBS attributed the growth to market appreciation and strong net new money flows. UBS Global Asset Management had roughly $5.8 billion in net new institutional inflows for the first quarter, a 70% increase over the previous quarter. UBS reported "major" inflows in alternative and quantitative multimanager products, as well as fixed income and asset allocation strategies, which offset the company's outflows in equities. Further details were not available.
