Thursday, December 8, 2022

Bank Julius Baer manages fewer assets

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Assets under management AuM at the end of April were still CHF 457 billion compared to CHF 482 billion at the end of 2021, as the Zurich wealth management bank announced on Thursday. The decline is mainly due to the negative market development, company disposals and the reduction in external financing by customers.

The sale of Wergen & Partner and the deconsolidation of NSC Asesores resulted in an effect of around CHF 5 billion. Because customers reduced the risk in their investment portfolios and reduced external financing, the bottom line was CHF 2.7 billion. A year ago, there was still an inflow of new money amounting to 4 percent of the assets under management.

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