In an interim management statement for the first ten months of 2017 the Swiss pure play bank said its assets under management reached a new record.
At the end of October 2017, Julius Baer’s assets under management (AuM) had grown to a record 393 billion Swiss francs, a year-to-date increase of 57 billion francs, or 17 percent.
Julius Baer said the rise in AuM was driven by significant net inflows, continued positive market performance, and the strengthening of the euro relative to the Swiss franc.
Hiring Influence in Asia-Pacific
Supported by a significant contribution from relationship managers who joined in the last two years, annualized net new money growth remained above the 4–6 percent target range. Momentum was particularly strong in emerging markets and the Asia Pacific region.
For the first ten months, the cost income ratio was below 69 percent, compared to 69.1 percent reported in the first half of the year. The cost/income ratio is expected to improve into the medium-term target range in 2018. As usual, this guidance assumes no significant deterioration in market conditions.
The Zurich-based bank serves the Asia Pacific region from a number of locations, including Singapore, Hong Kong and India, making Asia its second home market. It is currently focusing on five key markets to achieve organic growth: mainland China, Hong Kong, Indonesia, Singapore and India.
