Development of the Swiss Investment Fund Business - 2nd Quarter 1995

                                                       Sfrs. Bio
Increase (decrease) of amounts under 
management by Swiss funds                                2.6
Same for the last 12 months                             (3.6)

Total net assets under management
 per 30 June 1995                                      171.16

Trends:         For bond funds                  decrease
                For equity funds                increase
                For money market funds          very substantial 								increase
                                                (basically all 
                                                of the 
                                                additional 									monies)

Currencies:
DM and Swiss Francs                             less favoured
Dollar                                          strongly favoured
ECU                                             out of favour

Other points to note:
It appears that Swiss Bank Corporation's volume went up
Sfrs. 2.15 Mio. while Union Bank of Switzerland's fund decreased by 
Sfrs 1.37 Bio.