UBS 1Q 2019: Better Than Expected but Still Disappointing
Narrow-moat UBS reported a net profit of $1.1 billion for the first quarter of 2019, which is 27% lower than the $1.6 billion UBS reported for the first quarter of 2018. Consensus expectations were, however, even lower at $0.9 billion, after exceptionally bearish comments by UBS management in March. It is worthwhile to highlight that the first quarter of 2018 did pose a challenging base. It accounted for 35% of 2018 earnings, the remaining nine months will be a much softer base. We maintain our ...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.
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.
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