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J. Safra Sarasin’s Asia AUM dips 6% YoY

huGO-BildID: 39959491 A logo is seen at a branch office of private Bank J. Safra Sarasin in Basel October 26, 2014. Swiss authorities have searched the offices of private Bank J. Safra Sarasin as part of a probe led by German prosecutors into dividend stripping, an investment strategy that can be used to help clients avoid taxes, a Zurich prosecutor said. Authorities searched Sarasin's offices in Basel and Zurich on Thursday, as well as others connected to the bank, in a broader investigation into so-called "cum ex" dividend deals, Zurich deputy prosecutor Marcel Strassburger told Reuters. REUTERS/Arnd Wiegmann (SWITZERLAND – Tags: BUSINESS LOGO)

J. Safra Sarasin posted a 6.4% year-on-year (YoY) dip in assets under management (AUM) for Asia, from CHF 18.7 billion in 2017 to CHF 17.5 billion in 2018, according to its annual report released on Friday. The bank’s Asia AUM receded in tandem with a 3.2% YoY drop in the bank’s total AUM across all its booking centres, from CHF…

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