Smaller the better
23/06/2008
Swiss investors continue to invest more of their money with smaller wealth managers and cantonal banks as their disillusionment with some of the bigger Swiss providers like UBS persists, the latest numbers from data provider Lipper reveal.
Lombard Odier Darier Hentsch, Bank Sarasin, Zurich Financial Services and Swisscanto Holdings saw strong inflows in May.
Geneva-based LODH topped the inflow league table in the month, attracting SFr241m.
Outflows at UBS continued, with approximately SFr1bn leaving the bank’s funds during May, although the pace of outflow shows signs of slowing. In the six months since the end of May, UBS has lost around SFr12.9bn.
However, Pictet, which saw strong inflows in March, registered an outflow of SFr1.2bn in April and May.
Credit Suisse recorded a huge inflow of SFr3.3bn in April, only to see an outflow of SFr3.6bn in May.
