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

More documents

Recommendations

Info

Notes 28 Derivative financial instruments Year ended 31 December 2005 Derivatives held for trading 118 JULIUS BAER GROUP Contract/ Fair values Fair values Notional amount Assets Liabilities CHF m CHF m CHF m Foreign exchange derivatives Forward contracts 57505.2 618.2 626.4 Futures 1018.0 1.3 - Options (OTC) 16654.5 232.2 223.8 Total foreign exchange derivatives 31.12.2005 75177.7 851.7 850.2 Total foreign exchange derivatives 31.12.2004 75086.0 1311.5 1233.9 Interest rate derivatives Forward contracts 216.1 1.4 1.2 Swaps 2857.9 16.5 19.1 Futures 203.5 0.2 0.7 Options (OTC) 171.8 0.4 0.3 Options traded - - - Total interest rate derivatives 31.12.2005 3449.3 18.5 21.3 Total interest rate derivatives 31.12.2004 12358.9 23.4 24.3 Precious metals Forward contracts 216.0 8.1 0.6 Futures 39.4 - 1.5 Options (OTC) 1531.1 120.2 132.6 Total precious metals derivatives 31.12.2005 1786.5 128.3 134.7 Total precious metals derivatives 31.12.2004 759.8 9.6 24.2 Equity/indices derivatives Futures 263.3 0.8 0.2 Options (OTC) 5458.6 309.4 286.6 Options traded 2090.6 24.8 95.0 Total equity/indices derivatives 31.12.2005 7812.5 335.0 381.8 Total equity/indices derivatives 31.12.2004 2005.9 63.2 88.1 Other Futures 19.5 - 2.9 Total other derivatives 31.12.2005 19.5 - 2.9 Total other derivatives 31.12.2004 - - - Total derivatives held for trading 31.12.2005 88245.5 1333.5 1390.9 Total derivatives held for trading 31.12.2004 90210.6 1407.7 1370.5
28 Derivative financial instruments Derivatives held for hedging Notes Contract/ Fair values Fair values Notional amount Assets Liabilities CHF m CHF m CHF m Derivatives designated as cash flow hedges Interest rate swaps 1141.3 3.0 4.0 Total derivatives held for hedging 31.12.20051 1141.3 3.0 4.0 Total derivatives held for hedging 31.12.2004 1089.5 1.6 4.1 Total derivative financial instruments 31.12.2005 89386.8 1336.5 1394.9 Total derivative financial instruments 31.12.2004, restated 91300.1 1409.3 1374.6 1 Compare to Comment on risk management, page 91 29 Financial instruments The table below compares the book values with the fair values of the balance-sheet and off-balance-sheet transactions. 2004 2005 Appreciation/ Appreciation/ Book value Fair value depreciation Book value Fair value depreciation CHF m CHF m CHF m CHF m CHF m CHF m Financial assets Cash 157.5 157.5 - 483.6 483.6 - Claims 6586.3 6621.4 35.1 12623.2 12729.3 106.1 Trading portfolios 1027.9 1027.9 - 1189.3 1189.3 - Derivative financial instruments 1409.3 1409.3 - 1336.5 1336.5 - Financial investments 6318.1 6320.7 2.6 7033.0 7034.0 1.0 Financial liabilities Commitments 11046.8 11093.9 -47.1 16896.5 16964.6 -68.1 Trading liabilities 486.1 486.1 - 432.4 432.4 - Derivative financial instruments 1374.5 1374.5 - 1394.9 1394.9 - Bonds 451.4 462.2 -10.8 513.5 548.3 -34.8 Difference between fair value and book value, excluding deferred taxes -20.2 4.2 JULIUS BAER GROUP 119
Page 1 and 2:
2005 Annual Report Julius Baer Hold
Page 3 and 4:
Key figures 2004 2005 Change CHF m
Page 5:
Annual Report 2005
Page 8 and 9:
Foreword 4 Dear Shareholders and Cl
Page 10 and 11:
Foreword 6 Annual financial results
Page 12 and 13:
Foreword 8 The significant economie
Page 14:
Foreword 10 2005 will go down in th
Page 17 and 18:
anks, the decision has been made to
Page 19 and 20:
this corresponds to CHF 2.59 per re
Page 21:
2004 2005 Change Change CHF m CHF m
Page 24 and 25:
Private Banking 20 Private Banking
Page 26 and 27:
Asset Management 22 Asset Managemen
Page 28 and 29:
Trading & Sales 24 Trading & Sales
Page 30 and 31:
Corporate Center 26 Corporate Cente
Page 32 and 33:
Corporate Center 28 Our model of su
Page 35 and 36:
Corporate Governance
Page 37 and 38:
1.2 Cross-shareholdings There are n
Page 39 and 40:
2.3 Changes of capital The descript
Page 41 and 42:
egistered shares not physically rep
Page 43 and 44:
Corporate Governance tors of Julius
Page 45 and 46:
3.3 Cross-involvement Since 2004, M
Page 47 and 48:
The Chairman’s Committee receives
Page 49 and 50:
Group Executive Board The Group Exe
Page 51 and 52:
Group Managing Board of UBS AG, 199
Page 53 and 54:
4.3 Other activities and functions
Page 55 and 56:
Equity Bonus Plan 2004 2005 Number
Page 57 and 58:
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 and 110: Notes 31.12.2004 31.12.2005 Change
Page 111 and 112: 18 Financial liabilities designated
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: 27 Consolidated off-balance-sheet t
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
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?