In the first half of 2014, Saxo Bank reached another record in assets under management, with client deposits with the online trading and investment specialist exceeding 60 billion Danish Krone (approximately €8 billion), an increase of almost DKR10 billion, equivalent to a 19%, in six months.
Kim Fournais and Lars Seier Christensen, founders and co-CEOs, said in a joint statement: “We are pleased with the confidence that our clients continue to place in our platform, illustrated by the significant growth in assets under management, which clients may look to deploy as volatility returns to the markets. This is the lowest level volatility we have seen in the markets in 22 years, but we have continued to strengthen our multi asset trading platform, giving customers more and better opportunities to invest.”
The inflow of additional collateral from existing clients as well as from new clients continued successfully in 2014. This comes against a backdrop of continued uncertainty concerning the global economic recovery as well as the geopolitical tensions in Ukraine, Iraq and elsewhere, which have kept trading relatively low in the first half of the year; however, they are higher than those seen in the second half of 2013 despite the even lower levels of volatility seen in the H1 2014 compared to H2 2013.
The net profit of DKR156 million is considered disappointing, Saxo Bank says, but still consistent with market conditions.
SOURCE: GOLD NEWS