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November 20, 2017updated 21 Nov 2017 4:28pm

Julius Baer AuM grow 17% in first ten months of 2017

Swiss private bank Julius Baer’s assets under management (AuM) grew to CHF393bn in the ten months to the end of October 2017, an increase of CHF57bn, or 17%, since the end of 2016.

The bank attributed the growth in AuM to significant net inflows, continued positive market performance, and the strengthening of the euro relative to the Swiss franc.

Net new money growth in the year to date stood above the 4–6% target range on an annualised basis, the bank said.

The cost/income ratio during the period continued to improve towards the 64–68% target range, which the bank aims to achieve in the medium-term.

“For the first ten months, the cost/income ratio (2) was below 69%, compared to 69.1% reported in the first half of the year,” the bank said in a statement.

The bank’s BIS total capital ratio was 21.8% and the BIS CET1 capital ratio was 16.4%, both above the group’s own floors of 15% and 11%, and above the regulatory minimums of 12.2% and 8%.

“The strengthening of the total capital ratio was partly attributable to the successful placement of USD 300 million of perpetual non-cumulative high-trigger Additional Tier 1 (AT1) securities in September 2017,” the bank noted.

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