Pictet and Lombard Odier Darier Hentsch both saw a strong surge in assets under management during the first nine months of 2005. Pictet ...

Pictet and Lombard Odier Darier Hentsch both saw a strong surge in assets under management during the first nine months of 2005. Pictet reported a 26.4 per cent growth in fee-based assets under management in the first nine months of the year to SFr163.1 billion ($124 billion), according to a press conference last week held by the Geneva-based bank. The bank said the rise was evenly divided between private clients and individuals, with about SFr82 billion each. Total assets under management – custody and fee-based – rose 19 per cent in the first nine months to SFr243.4 billion, Pictet said. Lombard also reported last week that its assets under management rose 18 per cent in the first nine months to SFr145 billion. The Geneva-based bank said that 73 per cent of this year's increase (SFr22 billion) came from performance (SFr16 billion) and the rest from new money inflows (SFr6 billion), mainly from institutional clients.