Julius Baer: stock down after H1 results

(CercleFinance.com) - Julius Baer shares are down 4% in Zurich after it announced H1 2022 adjusted net profit that is down a quarter (-25%) to 476 million Swiss francs, weighed on by a final charge of 44 million Swiss francs net of tax related to the settlement of legacy civil litigation.


Meanwhile, assets under management fell 11% to 428 billion Swiss francs as a result of significant corrections in global equity and bond markets in one of the worst six-month periods for financial markets in decades.

However, the Swiss asset manager points to a significant recovery in net new money, which has reached 1.5 billion Swiss francs since the end of April, which limited total net outflows for the half year to 1.1 billion Swiss francs.


Copyright (c) 2022 CercleFinance.com. All rights reserved.