Julius Baer: assets under management set new record

(CercleFinance.com) - Julius Baer's assets under management rose by 12% in the first four months of the year, reaching a record level of 427 billion Swiss francs at the end of April, the Swiss private bank said on Friday.


After a soft start to the year, net new money growth accelerated towards the end of the period, driven by strong inflows from clients in Asia and Europe, the group said.

The improving market environment continued to drive client transaction activity and brokerage commissions throughout the period - particularly in Asia - the money manager added.

Furthermore, the cost reduction program - which includes a reduction of 2% in the group's headcount by the end of 2019 - remains on track, it said.

The Julius Baer share price did not react much to the news this morning, down 0.7% at 40.8 Swiss francs in Zurich.

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