2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG

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Notes 15 Future annual commitments under building occupancy agreements and operating leases 106 JULIUS BAER GROUP 31.12.2004 31.12.2005 Change Change CHF 1000 CHF 1000 CHF 1000 % Maturity of up to 1 year 11246 6197 -5049 -44.9 Maturity of up to 5 years 20663 10864 -9799 -47.4 Maturity of up to 10 years 8239 18171 9932 120.5 Maturity of up to 15 years 840 6522 5682 676.4 Maturity of over 15 years - 1494 1494 - Subtotal 40988 43248 2260 5.5 Less sublease rentals under non-cancellable leases 1483 3537 2054 138.5 Total 39505 39711 206 0.5 Operating expenses include a gross CHF 36.4 million as of 31 December 2004 and a gross CHF 55.3 million as of 31 December 2005 from building occupancy agreements and operating leases. 16 Assets pledged or ceded to secure own commitments and assets subject to retention of title 31.12.2004 31.12.2005 Effective Effective Book value commitment Book value commitment CHF 1000 CHF 1000 CHF 1000 CHF 1000 Securities 814407 521624 735470 458836 Money market instruments 5103 5103 - - Other 16107 8936 14876 7611 Total 835617 535663 750346 466447 The assets are pledged for commitments from securities borrowing, for lombard limits at central banks, for stock exchange security deposits and to secure the business activities of the foreign organizations according to local laws. 17 Commitments to own pension plans 31.12.2004 31.12.2005 Change Change CHF 1000 CHF 1000 CHF 1000 % Commitments to own pension plans 4687 5829 1142 24.4 The commitments to own pension plans reflect credit balances of the pension plans which are deposited in the Group. The employer contributions have been credited to the individual pension plans.
18 Financial liabilities designated at fair value Senior debt 19 Debt issued Notes 31.12.2004 31.12.2005 CHF 1000 CHF 1000 Money market paper issued 16090 9689 Cash bonds outstanding 150 80 Bonds outstanding 435195 278709 Preferred securities - 225000 Total 451435 513478 Money market paper issued Maturity 31.12.2004 2006 2007 2008 2009 2010 2011-2015 Thereafter 31.12.2005 CHF 1000 CHF 1000 CHF 1000 CHF 1000 CHF 1000 CHF 1000 CHF 1000 CHF 1000 CHF 1000 Fixed rate 429909 1222185 13301 - 12221 1247707 Interest rates (ranges in %) 1.75-15 2.1-25.55 7.4-8.2 0.75 Floating rate 270346 303326 68918 103268 30503 22005 64643 11135 603798 Total 700255 1525511 82219 103268 42724 22005 64643 11135 1851505 The high and low coupons generally relate to structured debt issues prior to the separation of embedded derivatives. As a result, the stated interest rate on such debt issues generally does not reflect the effective interest rate paid to service its debt after the embedded derivative has been separated and, where applicable, the application of hedge accounting. 31.12.2004 31.12.2005 Interest rate Interest rate Interest rate Total 0% 1-2% 2-3% CHF 1000 On demand 2921 6731 - - 6731 Due within 3 months 10194 2885 73 2958 Due within 3 to 12 months 2975 - - Total 16090 6731 2885 73 9689 JULIUS BAER GROUP 107
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2005 Annual Report Julius Baer Hold
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Key figures 2004 2005 Change CHF m
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Annual Report 2005
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Foreword 4 Dear Shareholders and Cl
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Foreword 6 Annual financial results
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Foreword 8 The significant economie
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Foreword 10 2005 will go down in th
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anks, the decision has been made to
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this corresponds to CHF 2.59 per re
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2004 2005 Change Change CHF m CHF m
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Private Banking 20 Private Banking
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Asset Management 22 Asset Managemen
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Trading & Sales 24 Trading & Sales
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Corporate Center 26 Corporate Cente
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Corporate Center 28 Our model of su
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Corporate Governance
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1.2 Cross-shareholdings There are n
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2.3 Changes of capital The descript
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egistered shares not physically rep
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Corporate Governance tors of Julius
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3.3 Cross-involvement Since 2004, M
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The Chairman’s Committee receives
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Group Executive Board The Group Exe
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Group Managing Board of UBS AG, 199
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4.3 Other activities and functions
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Equity Bonus Plan 2004 2005 Number
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5.3 Compensation for former members
Page 59 and 60: 5.7 Additional honorariums No addit
Page 61 and 62: 7. Changes of control and defense m
Page 63 and 64: 9. Information policy Julius Baer H
Page 65 and 66: Financial Report
Page 67 and 68: Consolidated income statement 2004
Page 69 and 70: 31.12.2004 31.12.2005 Change Change
Page 71 and 72: Translation differences 2003 2004 2
Page 73 and 74: Consolidation policies and valuatio
Page 75 and 76: when the contractually stipulated p
Page 77 and 78: A hedge is regarded as highly effec
Page 79 and 80: Intangible assets Intangible assets
Page 81 and 82: In the case of defined benefit pens
Page 83 and 84: Under revised IAS 32, certain deriv
Page 85 and 86: Notes JULIUS BAER GROUP 81
Page 87 and 88: 3. Credit risks Credit or counterpa
Page 89 and 90: Assets by countries/country groups
Page 91 and 92: 5. Liquidity and financing risks Th
Page 93 and 94: The liquidity position of Bank Juli
Page 95 and 96: Hedges The Group hedges a portion o
Page 97 and 98: 7. Reputational risks The Group’s
Page 99 and 100: 3 Results from trading operations N
Page 101 and 102: 7 Taxes Notes 2004 2005 Change Chan
Page 103 and 104: The depreciation and write-offs of
Page 105 and 106: Information on the consolidated bal
Page 107 and 108: 12 Financial investments 31.12.2004
Page 109: Notes 31.12.2004 31.12.2005 Change
Page 113 and 114: 20a Deferred tax assets Notes 31.12
Page 115 and 116: 23 Corporate capital Notes Register
Page 117 and 118: 25 Pension plans and other employee
Page 119 and 120: 26 Assets and liabilities by domest
Page 121 and 122: 27 Consolidated off-balance-sheet t
Page 123 and 124: 28 Derivative financial instruments
Page 125 and 126: 29 Financial instruments (continued
Page 127 and 128: 30 Risk-weighted assets (BIS) Notes
Page 129 and 130: Notes Head Office Currency Capital
Page 131 and 132: Notes Head Office Currency Capital
Page 133 and 134: Pro-forma information The following
Page 135 and 136: Movements in shares granted under v
Page 137 and 138: Notes 31.12.2004 31.12.2004 31.12.2
Page 139 and 140: Breakdown of assets under managemen
Page 141 and 142: Report of the Group auditors to the
Page 143 and 144: Financial Report of Julius Baer Hol
Page 145 and 146: lion to CHF 28 million due to capit
Page 147 and 148: Balance sheet 31.12.2004 31.12.2005
Page 149 and 150: Proposal of the Board of Directors
Page 151 and 152: Report of the statutory auditors to
Page 153 and 154: Addresses and contacts
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2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG

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