Assets under management at Julius Baer climbed higher in the first half of 2023, with accelerated net inflows in the second quarter.
Julius Baer recorded a 4 percent rise in assets under management to 441 billion Swiss francs ($509 billion), according to its first half results. The bank cited positive developments in global equity and bond markets and net new money inflows as the main drivers, partly offset by the negative currency impact of the strengthening franc.
Including assets under custody of 74 billion francs, total client assets worldwide rose 5 percent to 515 billion francs.
Net Inflows
In the first half, Julius Baer recorded net inflows of 7.1 billion francs, compared to net outflows of 1.1 billion francs in the first half of 2022. Excluding deleveraging, net new money totalled 9.2 billion francs, compared to a positive inflow of 2.6 billion francs in the same period last year.
The bank saw solid net inflows from clients domiciled in various regions, including in Asia where Hong Kong and India were highlighted as top contributors, though no specific figures were disclosed. Overall, Asia-domcilled clients, excluding the Middle East, accounted for around 25 percent of total AUM.
