Swiss-based Vontobel reported on 7 November that its assets under management rose 10% to CHF 227.6bn at the end of September 2024 from CHF 206.8bn at year-end 2023 on "positive flows and performance".
The trading update for first 9-months in 2024 said the percentage increase was specifically driven by positive year-to-date market performance (CHF 16.8bn), net new money (CHF 2.6bn) and foreign exchange effects (CHF 1.5bn).
Private Clients inflows continued strong at CHF 3.1bn, within Vontobel’s own target range of 4 to 6%, while Institutional Client outflows slowed to CHF 0.5bn.
The statement further said: "The sustained return of higher volatility and greater geopolitical risk is driving all clients to require more sophisticated investment expertise, a greater ability to customize solutions to meet their needs and risk tolerance, and a partner with a solid balance sheet.
"Vontobel is well-positioned to benefit from this environment. Its seven investment boutiques serve both client segments and have demonstrated their ability to tailor at scale. Vontobel maintains a conservative risk profile, focusing on investment-led rather than credit-led growth with a focus on developed markets, particularly for its private client segment.
"Tailor-made solutions, a key strength of Vontobel, are expected to be among the fastest growing investment offerings over the coming years, as are private markets - an area Vontobel has been actively expanding into. Vontobel’s focus markets for private clients are also expected to experience solid growth in the coming years.
"Vontobel has demonstrated its ability to complement its steady and disciplined organic growth with bolt-on acquisitions to add scale to its focus markets and new investment skills. The company remains committed to this approach to achieve its 4 to 6 percent revenue growth target through the cycle. The CHF 100 million in gross cost reductions, which it is on track to achieve by 2026, will safeguard this strategic flexibility."
