Julius Baer Group’s assets under management (AuM) stood at CHF356bn at the end of April 2017, an increase of CHF20bn or 6% since the end of 2016.
The bank attributed the rise in AuM to significant net inflows and market performance, but was partly offset by the weakening of the US dollar relative to the Swiss franc.
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The bank further said that its hiring spree last year helped accelerate net new money inflows to the middle of the 4-6% target range.
The gross margin over the first four months of 2017 stood at 90 basis points, up 2 basis points compared to the second half of 2016. The increase was largely due to improvements in the client-activity-driven and asset-based components of net commission and fee income, the bank noted.
At the end of April 2017, the wealth manager’s BIS total capital ratio and BIS CET1 capital ratio were 17.8% and 14.2%, respectively. The ratios were above the group’s own floors of 15% and 11%, respectively, and above the regulatory requirements of 12.2% and 8%, respectively.
The cost income ratio stood at 71%. The ratio is expected to reach close to the upper end of the 64-68% medium-term target range in 2017 and into the range in 2018, Julius Baer said.
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