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

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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.
Breakdown of assets under management By types of investment Notes 2004 2005 % % Equities 42 41 Bonds (including convertible bonds) 30 21 Money market investments 8 7 Third-party funds 8 8 Client deposits 6 4 Other 1 6 19 Total 100 100 1 Including non-categorized, own-managed funds By currencies CHF 25 19 EUR 31 30 GBP 4 7 USD 31 36 JPY 4 3 Other 5 5 Total 100 100 JULIUS BAER GROUP 135
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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
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5.7 Additional honorariums No addit
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7. Changes of control and defense m
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9. Information policy Julius Baer H
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Financial Report
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Consolidated income statement 2004
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31.12.2004 31.12.2005 Change Change
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Translation differences 2003 2004 2
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Consolidation policies and valuatio
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when the contractually stipulated p
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A hedge is regarded as highly effec
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Intangible assets Intangible assets
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In the case of defined benefit pens
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Under revised IAS 32, certain deriv
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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 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: Notes 31.12.2004 31.12.2004 31.12.2
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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