Thu, May 23rd 2024
Julius Baer attracts less new money in early 2024, but assets under management rise.
Wealth management bank Julius Baer attracted less new money in the first four months of 2024 compared to the previous year, following negative headlines around the Signa debacle. Despite this, assets under management (AuM) rose significantly, reaching CHF 471 billion by the end of April, up from CHF 427 billion at the end of 2023, aided by a weaker Swiss franc and strong equity markets.
Net new money saw a negative start in January but recovered to an annualized growth of 3% over the next three months. Overall, net inflows totaled CHF 1 billion by April’s end, down from CHF 3.5 billion in the same period last year.
Julius Baer earned more on assets under management, with a gross margin of nearly 89 basis points in the first four months, improving from the second half of 2023. The adjusted cost/income ratio also improved to just over 69%, compared to 81.6% for the entire 2023.
The bank’s results disappointed analysts’ expectations for net new money inflows but exceeded forecasts for assets under management and gross margin.
©Keystone/SDA
English 
German 
French 
Spanish 
Arabic 
