Consolidated management report
audited information

LLB Group financial statement

The consolidated financial statement, prepared according to International Financial Reporting Standards (IFRS) shows a net profit attributable to the shareholders of LLB AG of CHF 174.2 million. In comparison with the previous year, when we reported a profit of CHF 144.7 million, this corresponds to an increase of 20.4 percent. The cost/income ratio stood at 63.0 percent (previous year: 65.2 %). Earnings per share rose to CHF 6.12 (previous year: CHF 5.08).

Assets under management per 31 December 2009

CHF 49.5 billion

Assets under management per 31 December 2009 (pie chart)

Assets under management

At the end of 2009, we managed client assets of CHF 49.5 billion. Compared with the figure for the previous year (CHF 46.1 billion), this represents an increase of 7.4 percent. The continuing tax discussions made the acquisition of new clients more difficult. Tax amnesties in various countries led to great uncertainty. Consequently, we registered a net new money outflow of CHF 1.0 billion (previous year: minus CHF 0.6 billion). The performance-related expansion in assets amounted to CHF 4.4 billion (previous year: minus CHF 13.9 billion) or +9.6 percent.

Assets in own-managed funds climbed by 19.8 percent to CHF 3.6 billion and assets with discretionary mandates by 14.7 percent to CHF 8.8 billion. At 31 December 2009, other assets under management stood at CHF 37.1 billion (31 December 2008: CHF 35.4 billion).