Assets managed by Julius Baer fell by 5% over the first four months of the year, to 457 billion francs, revealed the Zurich bank during a presentation of its new strategy on Thursday morning. On the contrary, margins have increased compared to 2021. Julius Baer “can reach 1000 billion francs under management by 2030”, also announced the general manager Philipp Rickenbacher, before unveiling a new strategy for the period 2023-2025.
The markets, largely in the red since the start of the year, had a negative impact on assets under management. The bank suffered net withdrawals of funds of 2.7 billion over the period. Important clients, especially Asian ones, have reduced their leverage, also argued Philipp Rickenbacher. Inflows have been positive in Europe, while the decline in leverage has been less marked since March, he said. Julius Baer also sold an independent Swiss wealth manager and reduced its stake in a Mexican manager. These two operations withdrew 5 billion francs in assets. Assets related to Russian nationals not domiciled in Europe or Switzerland represent 1.6% of the total entrusted to the institution.