SG Private Banking manages to attract new money amidst turmoil

SG Private Banking reported a slight increase in net new money in the third quarter, despite the worsening of the credit crunch during September.

Net new money rose by €1.8bn, bringing the overall inflow for the first nine months of the year to €4.2bn. But weak equity markets and exchange rate effects hit total assets under management, which fell to €73bn at the end of the third quarter, compared with €75.5bn a year ago.

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