Liechtenstein-based LGT released its 2005 results yesterday which revealed a 21.4 per cent rise in assets under management to SFr76.7 billio...

Liechtenstein-based LGT released its 2005 results yesterday which revealed a 21.4 per cent rise in assets under management to SFr76.7 billion ($62.8 billion). Net new money came in at SFr5.7 billion, a rise of 9.3 per cent on the 2004 figure. LGT said the Princely Portfolio, which combines both traditional and alternative investments, had SFr2.4 billion of assets under management at the end of 2005 and gross performance was up 10.8 per cent last year. Although well short of most benchmarks last year, LGT said the portfolio was up 64.5 per cent since its launch in 1998. Net profits rose 29.1 per cent to SFr114.6 million in 2005, with total income reported at SFr528.9 million, a rise of 12.4 per cent. LGT said it was continuing its international expansion – last year it opened an office in Bahrain and a seventh office in Germany. Plans are afoot to expand in central and eastern Europe, and the bank’s Vienna office is now a fully operational bank as opposed to a representative office.