Julius Baer 4-month AuM Rises

(RTTNews) - Swiss banker Julius Baer Group Ltd. (JBARF.PK, JBAXY.PK) reported Thursday that its assets under management or AuM for the first four months of 2024 grew 10 percent year-over-year to 471 billion Swiss francs.

The increase was driven by a significant positive currency impact and by strong stock markets, partly offset by a decline in bond market valuations.

Julius Baer said its operating performance during the period benefitted from substantial growth in AuM as well as from a marked recovery in client activity from the multi-year low levels experienced in the second half of 2023.

The gross margin rose to close to 89 basis points, a significant improvement from the 82 bp underlying gross margin recorded in the second half of 2023.