Vontobel remained on track in the third quarter of 2018, despite the fact that clients have been unsettled and cautious due to volatile markets.
Advised client assets reached a new record high of CHF209.4bn. This growth was aided substantially by the client assets transferred following the acquisition of the former Notenstein La Roche Privatbank AG, which developed as would normally be expected in a transaction of this kind. Vontobel recorded net new money growth within its target range of 4-6% in the first three quarters, with Asset Management posting the strongest growth.
Assets under management reached CHF209.4bn at the end of the quarter, a new record for the bank and up 19% year-on-year.
Vontobel Asset Management recorded advised client assets of CHF125.8bn at the end of the third quarter, up from CHF114.6bn a year previously. The growth in net new money was above the target range of 4-6%, helped in particular by fixed-income and multi-asset solutions as well as sustainable strategies.
Vontobel’s active, high-conviction asset management underscores the successful positioning of its boutique model in the marketplace. Alongside the special focus on performance, it has also achieved progress with the international diversification of its distribution network over the past nine months with the addition of new experts. At the same time, Swiss distribution activities have also been strengthened.
Vontobel Asset Management, after a phase of very strong growth, is now aiming for growth in high-margin business within the 4-6% target range even in challenging markets.