The asset management division of Swiss private lender Vontobel has reported net inflows of CHF7.2 billion (US$7.99 billion) for the quarter ended September 2013 compared with the end of June 2013.
The decrease in the inflow of fresh funds during the third quarter was primarily due to clients worried about US fiscal issues and swings in emerging markets.
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Vontobel CEO Zeno Staub said they had earlier anticipated a slowdown in the inflow of new money.
The company’s AUM remained unaffected at CHF160.4 billion (US$178.2 billion) in the latest quarter compared with the end of June.
The external asset managers (EAMs) business of Vontobel reported volume of assets under management totalling over CHF6 billion (US$6.66 billion).
Vontobel also expanded its business with US private clients in the quarter.
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