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Julius Baer AuM Up 3% To CHF 401 Bln

Julius Baer Group (JBARF.PK,JBAXY.PK) said that at the end of April 2018, its assets under management or AuM rose to 401 billion Swiss francs, a year-to-date increase of 13 billion francs, or 3%, crossing above the 400 billion francs mark for the first time.

The rise in AuM came on the back of continued net inflows as well as a positive currency impact, the latter mainly following the strengthening of the US dollar in April. Market performance was essentially flat.

Net inflow momentum remained robust, resulting in an annualised net new money pace above 5%, inside the 4-6% target range. Particularly strong inflows were recorded from clients domiciled in Europe, Switzerland and Asia, with continued substantial contributions through relationship managers who joined in 2016 and 2017.

The cost/income ratio improved further and, at just below 67%, it was comfortably inside the 64-68% medium-term target range. This positive trend reflects continued growth in client assets at a stronger gross margin, with revenue growth substantially outpacing the cost impact from ongoing investments in technology and the successful recruitment of senior relationship managers.

The company said it will publish detailed financial results for the first half of 2018 on 23 July 2018.

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