Bellevue Group had a good first half, with profit and net new money increasing on the year. On Friday it presented the details for the six months through June.
Based in Kuesnacht near Zurich, the Bellevue Group boosted its wealth management boutique business with clearly improved asset- and wealth-management services. The operating result increased by 15 percent to 13.5 million Swiss francs ($13.6 million), compared with 11.7 million francs a year ago.
Managed client assets reached 12.7 billion francs my mid-year, a record level. The group attracted some 522 million francs in new client funds in the first six months of the year, pushing the annualized rate of net new money growth to 9 percent.
Costs Under Control
The group had released provisional figures earlier this month. The favorable business development was driven largely by higher client assets, the Bellevue Group said Friday.
The cost-income-ratio was kept steady at 72.8 percent despite ongoing investments in expanding wealth management infrastructures. The ratio is in line with the group’s medium-term target.
• Click here for the 2018 half-year report.
