Alternative performance measures
The LLB Group prepares its financial statements in accordance with the recognised International Financial Reporting Standards (IFRS). For increased transparency, it also reports alternative performance measures (APMs).
Alternative performance measures are financial measures of historical or future financial performance, financial position or cash flows that are not defined in the IFRS. APMs provide useful information on the performance of the business. They also reflect aspects of operating targets and are monitored by the LLB's Group Executive Board.
The alternative performance measures used in this report should be regarded as complementary information to the IFRS performance measures. They comply with the SIX Swiss Exchange's Directive on the Use of Alternative Performance Measures (DAPM). APMs do not have any standardised meaning and may not be comparable with similar measures used by other companies.
Price / earnings ratio
Net income per share in relation to year-end price of the LLB share
Basic earnings per share
Net income attributable to the shareholders of LLB divided by the weighted average number of shares.
Operating expenses (excluding provisions for legal and litigation risks) in relation to operating income (excluding expected credit losses).
Cost-Income-Ratio (adjusted to consider market effects)
Operating expenses (excluding provisions for legal and litigation risks) in relation to operating income (excluding expected credit losses and adjusted to consider market effects from interest rate swaps and price gains).
Return on Equity
Net profit attributable to the shareholders of LLB in per cent of the average equity attributable to the shareholders of LLB.
Net new money
This position is composed of the acquisition of new clients, lost client accounts and inflows or outflows from existing clients. Performancerelated asset fluctuations, e. g. price changes, interest and dividend payments including interest, commissions and expenses charged to client accounts, are not regarded as inflows or outflows. Acquisitionrelated changes to assets will also not be considered.
Sum of assets under management and loans.
Assets under management
Assets under management comprise all client assets managed or held for investment purposes. Basically, these include all balances due to customers, fiduciary time deposits and all valued portfolio assets. Also included are other types of client assets which can be deduced from the principle of the investment purpose. Custody assets (assets held solely for transaction and safekeeping purposes) are not included in assets under management.
Operating income (excluding expected credit losses) relative to average monthly business volumes.
Growth of net new money
Net new money in per cent of the assets under managenemt from the previous period.
Total return on the LLB share
Dividends and price gain in per cent of year-end price of the LLB share.
Total dividends paid in divided by net profit
Dividend yield at year-end price
Dividend per share in per cent of year-end price of the LLB share.
Assets in own-managed funds
This item comprises the assets of the LLB Group's own managed, collective investment funds.
Assets with discretionary mandates
Securities, value rights, precious metals, the market value of fiduciary investments with third parties and customer deposits are included in the calculation of assets with discretionary mandates. The figures comprise both assets deposited with Group companies and assets deposited with third parties, for which the Group companies hold a discretionary mandate.
Other assets under management
Securities, value rights, precious metals, the market value of fiduciary investments with third parties and customer deposits are included in the calculation of other assets under management. The figures comprise assets for which an administration or advisory mandate is exercised.
Sum of income from interest rate swaps and price gains from financial investments