Hong Kong was featured as a top contributor to global net new money at Julius Baer in 2023, which has thus far seen a very slight uptick in client assets.
Assets under management at Julius Baer reached 429 billion Swiss francs ($477 billion) as of the end of April 2023, according to an interim management statement, up 1 percent year-on-year.
This was driven by positive market performance and net new money inflows, which was partly offset by the strengthening Swiss franc against the US dollar.
Net Inflows
Net new money saw a slow start at the beginning of 2023 with continued impact from client deleveraging before improving in the latter part of the four-month period.
This resulted in net new money of 3.5 billion francs as of the end of April 2023, or 5.2 billion francs when excluding the effects of deleveraging. By region, there were solid contributions from clients domiciled in Europe, the Middle East, Israel and Asia, especially from Hong Kong.
