February 7, 2018 / 8:08 AM / 4 months ago

Pictet says assets under management or custody rise to record

ZURICH, Feb 7 (Reuters) - Swiss private bank and asset manager Pictet said group assets under management or custody rose by 47 billion Swiss francs ($50.28 billion) last year to a record high of 509 billion.

Net new money of 14.1 billion francs and a strong market environment fueled the rise, the Geneva-based bank said in a statement on Wednesday.

$1 = 0.9347 Swiss francs Reporting by Michael Shields, editing by Louise Heavens

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