The Swiss private banking group enjoyed record-high net profit on the back of strong growth in assets under management in the first half of 2021.

Julius Baer has reported an adjusted net-profit of CHF636m (US$694m) for H1 2021, the highest half-year profit in the company’s history (H1 2020: CHF524m). Assets under management (AuM) increased 12% to CHF486 billion, driven by market performance, currency impact and net new money inflows. Structured products made up four percent of the total AuM, or CHF19.4 billion. As of 30 June 2021, liabilities on the groups balance sheet included CHF14.8 billion structured products issued (end-Dece

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