Cross posted at WikiChecks.
I pasted in monthly data from the Swiss bank UBS and found significant management. The file used was this. The digit frequency shows an excess of zeros and ones and a deficiency of 7s and 8s. One possible explanation is that figures slightly below a whole number have been boosted to slightly above a whole number (eg. 3.9% to 4.1%).
For comparison, I looked at overall returns from a number of funds here. These fund returns showed no signs of management.
Interestingly, a google search on ‘UBS fraud’ gives plenty of hits. UBS was charged with fraud in July 2008 by the SEC. The linked article states of the charges:
Of course, the Commission’s complaint are only allegations, thus far unproven, and UBS has not yet responded to the compliant. However, if true, the allegations are serious, and provide significant insight into a corporate mindset at UBS which put its profits ahead of the well being of its customers, and its own employees.