Julius Baer has reported record levels of assets under management in its latest interim statement, hitting CHF 401 billion as of April 2018.
This is the first time the bank has surpassed the CHF 400 billion mark, and is a year-to-date AUM increase of CHF 13 billion, or 3%.
The bank saw net new money inflows of between 5% and 6%, with strong inflows recorded from clients domiciled in Europe, Switzerland and Asia. It credited ‘substantial contributions’ to these inflows to relationship managers who joined the bank between 2016 and 2017.
The statement also noted that Julius Baer’s new core banking system in Asia was introduced at the end of March 2018. The platform is based on the Temenos T24 banking software and has been implemented in the bank's two Asian booking centres in Singapore and Hong Kong.
According to the bank, this implementation is ‘laying the operational and technical foundation for Julius Baer’s further growth in the region’.