Assets under management at Julius Baer rose 9 percent in the first half of 2009, ending June at SwFr 299 billion. Total consolidated client assets reached SwFr 367 billion.
Assets under management at Julius Baer rose 9 percent in the first half of 2009, ending June at SwFr 299 billion. Total consolidated client assets reached SwFr 367 billion.
The private bank saw net new client inflows of SWFr 3.4 billion for the first half of 2009, while investment gains added SwFr 12 billion, currency gains SwFr 7 billion, and the acquisition of Augustus Asset Managers, SwFr 1.9 billion.
Consolidated operating income fell by 24 percent, to SwFr 1.2 billion year-on-year, while net fee and commission income declined 34 percent. to CHF 791 million.
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Meanwhile, with average assets under management 25 percent lower year on year, profit fell 37 percent to SwFr 324 million. Earnings per share showed a smaller decline of 36 percent to SwFr 1.56 due to the lower share count following last year’s buyback.
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