UBS Group is observing positive flows of client funds this quarter. In the BofA Global Research financials conference, it was revealed that the first quarter had been strong, and it viewed the slowdown in the second quarter as an ‘anomaly’.

As of this quarter, the company sees positive flows. The bank’s performance ensures its ambition to boost net new fee-earning assets by 5 per cent. UBS Group AG would now focus on organic growth in the US market after calling off a planned USD 1.4 billion acquisition of Wealthfront. UBS’s strategy concerned gaining scale and raising profitability in the US market. It also aims to capture growth in Asia, gain profitability in the EMEA (Europe, the Middle East and Africa) region, and work on market share and cost discipline in Switzerland.

Founded in 1998, UBS Group AG is a multinational investment bank and financial services company. Based in Switzerland, it is the largest Swiss banking institution and the largest private bank in the world. Besides private banking, UBS provides wealth management, asset management, and investment banking services.