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UBS APAC AUM down 6% QoQ, partly on “high market volatility”

The world’s largest private wealth manager also posted a global third quarter net income that more than doubled from the same period a year ago, while saying that it would scale back on profitability targets due to stricter regulatory requirements and economic headwinds. UBS’ assets under management (AUM) in Asia Pacific totalled CHF257 billion (US$259 billion) in Q3, down from…

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