Julius Baer: 5% decline in AuM at end-April
(CercleFinance.com) - Julius Baer has reported a 5% drop in assets under management in the first four months of the year, even with the backdrop of the war in Ukraine, lockdowns in China and rate hikes in the US.
The Swiss private bank said total assets under management on behalf of its clients stood at 457 billion Swiss francs at the end of April, down from the 470 billion Swiss francs the year before.
The Zurich-based bank said that the decline was due to a fall in the stock and bond markets and clients' desire to reduce their debt.
In a statement, Julius Baer emphasises that it is still well positioned to achieve the targets set out in its strategic plan of 2020-2022.
For 2023-2025, the Swiss bank has set new targets, including growth of at least 10% in adjusted taxable profit over the period.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The Swiss private bank said total assets under management on behalf of its clients stood at 457 billion Swiss francs at the end of April, down from the 470 billion Swiss francs the year before.
The Zurich-based bank said that the decline was due to a fall in the stock and bond markets and clients' desire to reduce their debt.
In a statement, Julius Baer emphasises that it is still well positioned to achieve the targets set out in its strategic plan of 2020-2022.
For 2023-2025, the Swiss bank has set new targets, including growth of at least 10% in adjusted taxable profit over the period.
Copyright (c) 2022 CercleFinance.com. All rights reserved.