Swiss PBs report decline in structured products activity

Julius Baer Group saw its assets under management (AuM) fall 12% to CHF424 billion (US$452 billion) as at the year-end due to ‘negative market performance’ despite a recovery in net new money generation from an outflow of CHF1.1 billion to inflow of CHF9.8 billion in H2 22.  Structured products accounted for four percent of total AuM, the same level as a year ago but a decrease from five percent as at the end of 2020. Operating income was stable at CHF3.9 billion in 2022 year