Swiss private banking group Julius Baer Group Ltd. (JBAXY.PK,JBARF.PK), in its Interim Management Statement for the first four months of 2013, said its assets under management or AuM amounted to CHF 220 billion at the end of April, an increase of 16 percent from the CHF 189 billion at the end of same period last year. This includes about CHF 24 billion from Merrill Lynch's IWM business outside the US, which Julius Baer is in the process of acquiring.
Outside the acquisition impact, the increase in AuM in the first four months of 2013 was driven by a positive market performance, a positive currency impact, as well as net new money, the company noted.
Julius Baer is targeting to acquire between CHF 57 billion and CHF 72 billion of AuM from IWM over the next two years.
Total client assets grew by 12 percent to CHF 309 billion.
For comments and feedback: editorial@rttnews.com