Swiss asset manager Vontobel’s advised client assets increased to CHF175.3bn in the third quarter of 2017, from CHF164.7bn as at 30 June 2017.
In the Wealth Management and the External Asset Managers (EAM) unit, net new money was substantial and advised client assets totalled over CHF50bn. The company attributed the growth to high level of client satisfaction and good investment performance of portfolio management mandates and advisory mandates.
The group also recorded notable developments in its fixed income boutique TwentyFour Asset Management, where assets under management increased by 40% since the start of 2017.
Vontobel CEO Zeno Staub said: “The pleasing development of the business in the first nine months of the year shows that Vontobel is solidly positioned with its broad-based business model and is performing well in a challenging competitive environment. We continue to expect a solid result for the financial year 2017.
“Our business model – which we will further strengthen in the future through investments – combined with our sharper positioning will allow us to capture the opportunities that are arising in the changing market environment.”