Report
Alex Morozov
EUR 101.80 For Business Accounts Only

UBS' focus on its moaty wealth-management business serves shareholders well.

UBS reported good first-quarter results, but regulatory and geopolitical headwinds remain on the horizon. We are pleased with the capital generation this quarter. An adjusted return on tangible equity of 12.6%, well above our full-year estimate of 7.8%, and a common equity Tier 1 ratio of 14.1% speak to the management's success focusing on its core business. Adjusted pretax profit increased 42% to CHF 1.9 billion on a mix of higher net interest and trading income and higher fees and commissions ...
Underlying
UBS Group AG

UBS Group is a holding company. Through its subsidiary, UBS, Co. provides financial services including advisory services, underwriting, financing, market making, asset management and brokerage and retail banking. Co.'s operations are organized along five segments: Wealth Management (financial services to high net worth and ultra high net worth individuals as well as private and corporate clients); Wealth Management Americas (advice-based solutions for ultra high net worth, high net worth and core affluent individuals and families); Personal & Corporate Banking (provides financial products and services to private, corporate and institutional clients); Asset Management and Investment Bank.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Alex Morozov

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