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

Notes
34 Assets under management
134 JULIUS BAER GROUP
2004 2005 Change
CHF m CHF m %
Assets in own-managed funds 44833 119139 165.7
Assets with management mandate 41391 87870 112.3
Other assets under management 49146 97313 98.0
Total client assets (including double counting) 135370 304322 124.8
of which double counting 7359 30970 320.8
change through acquisition 1 128106
change through divestment 2 -5825
change through net new money 15654 16025 2.4
change through market appreciation 4170 30646 634.9
Baer Custodian Service 39125 47408 21.2
1 As per 02.12.2005, Julius Baer acquired the three private banks Ehinger & Armand von Ernst AG, Ferrier Lullin & Cie SA and BDL Banco di Lugano as well as
GAM Holding AG from UBS AG.
2 As per 01.04.2005, Julius Baer sold the private banking activities in the USA to UBS AG.
Method of calculation
Assets under management are stated according to the guidelines of the accounting regulations of the Swiss Federal Banking Commission
(SFBC Newsletter No. 29 on the disclosure of assets under management).
Assets in own-managed funds
This item covers the assets of all the actively marketed investment funds of the Julius Baer Group.
Assets with management mandate
The calculation of assets with management mandate takes into account client deposits as well as the market value of securities,
loan-stock rights, precious metals, and fiduciary investments placed with third-party institutions. The information covers both
assets deposited with Group companies and assets deposited at third-party institutions for which the Group companies hold a discretionary
mandate.
Other assets under management
The calculation of other assets under management takes into account client deposits as well as the market value of securities,
loan-stock rights, precious metals, and fiduciary investments placed with third-party institutions. The information covers assets for
which an administrative or advisory mandate is exercised.
Double counting
This item covers investment fund units from own-managed funds that are included in the assets with management mandate and
the other assets under management.
Net new money
This item consists of new client acquisitions, client departures and the inflow or outflow attributable to existing clients.