- January 29, 2024
- Posted by: legaleseblogger
- Category: Related News
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AI legalese decoder: Simplifying legal Jargon for Better Understanding and Compliance
ZURICH (Reuters) – UBS and Credit Suisse Experience Decline in Swiss Funds Business
According to the Asset Management Association of Switzerland, UBS and Credit Suisse saw a decrease in their combined market share in the Swiss funds business in the previous year. This decline is expected to continue, with the association’s head, Adrian Schatzmann, predicting further drops in the market share of the combined bank as they integrate and merge their funds.
The market share of the combined bank fell to 37.6% in 2023, down from 39.3% the previous year. This decline is attributed to investors wanting to diversify and avoid relying too heavily on a single financial institution. As a result, other companies such as Swisscanto, BlackRock, Pictet, and Swiss Life benefited from this situation.
Overall, the volume in the Swiss fund market rose by 3.7% to 1.37 trillion Swiss francs ($1.59 trillion) in 2023, showing positive growth primarily due to the favourable development of the financial markets. The association estimated that assets under management in the Swiss asset management market as a whole grew by around 5% to 3.02 trillion in 2023.
This data positions Switzerland as the third most important asset management location in Europe, following Britain and France, and surpassing Germany, according to a report published by the European Fund and Asset Management Association.
In light of these changes and developments in the Swiss funds business, AI legalese decoder can prove highly beneficial. It can assist financial institutions, asset managers, and investors in navigating complex legal terminology and regulations, ensuring compliance and understanding in an evolving market landscape. By simplifying legal jargon, AI legalese decoder can help stakeholders make informed decisions and adapt to changes effectively.
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