| Zurich Market Talk - 06-02-2012 |
| 06.02.12 07:42 | |
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Julius Baer Group. Assets under management unchanged at CHF 170 billion – Net new money CHF 10 billion or 6% – Underlying net profit CHF 452 million. Assets under management (AuM) ended the year at CHF 170 billion, basically unchanged from the end of 2010. Net inflows of CHF 10 billion or 6% were almost completely offset by the market performance and currency impacts. Total client assets (including assets under custody) declined by 3% to CHF 258 billion. Link: Click Here Keen interest in Forbo’s building and construction adhesives activity. Since signing an agreement in December 2011 to divest its industrial adhesives activities to H.B. Fuller, Forbo has been examining the strategic options for its building and construction adhesives activity, which was not included in the transaction. During this time, the company was contacted by several interested parties, and Forbo will be holding talks with these parties in the context of a structured process in the coming months about a possible sale of the building and construction adhesives activity. Link: Click Here Economy ******** Facebook looks significantly under-valued - or are TV ads over-valued? Philip Pearson, co-manager of the GLG Technology strategy says regarding the Facebook IPO: “We will be looking to participate in the IPO and already effectively have a stake through our holding in Mail.ru, a publicly listed Russian social network whose stake in Facebook is worth around 1/3rd of its market cap. Link: Click Here Selectively engaged. A strong US nonfarm payroll report fueled the risk rally further and some investors now wonder whether the rally is overextended. We think it is advanced, which means selectivity is warranted, but not over. And we think the bulk of the value is in EM. Getting our call right involves being right about two issues. The first is whether European risks will remain contained. The second is whether EM assets look relatively cheap. Let's start with the latter one. Link: Click Here |
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