BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Julius Baer Group (JBARF.PK, JBAXY.PK) reported that the Group's assets under management (AuM) increased to a record 393 billion Swiss francs at the end of October 2017, a year-to-date increase of 17%. The Group said the rise in AuM was driven by significant net inflows, continued positive market performance, and the strengthening of the euro relative to the Swiss franc. Annualised net new money growth remained above the 4-6% target range.
For the first ten months, gross margin declined to just below 90 basis points (bp), mainly on the back of a decline in client FX trading income since the end of June. For the first half of the year, the gross margin was slightly under 92 bp.
Julius Baer Group's detailed financial results for 2017 will be published on 31 January 2018.
Copyright RTT News/dpa-AFX