Strong new money inflow in core business

Strong new money inflows in core business with attractive margins

• More than 70% of overall growth driven by performance
• Net new money of nearly CHF 700 million (>10% p.a.), at the high end of target range
• Differentiated alternative investment solutions (incl. the new “Private Markets” unit) prove to be very stable
• Less differentiated investment strategies with slim margins remain under pressure, resulting in further adjustments to product range
• Overall well-balanced asset base, a renewed improvement in the margin