The Zurich-based asset manager is on track for a healthy first half, after a boom in healthcare investments and a surge in fresh money.
Bellevue Group is expecting profit in the first half to rise to more than 20 million Swiss francs ($22 million), it said in a statement on Monday. The investment boutique said it had seen a «material» rise in assets under management of nearly ten percent during the period. Full results are due on July 29.
The move follows last year's sale of its banking operations to Quintet, a Qatari-controlled wealth manager based in Luxembourg. This left Bellevue to focus on its money management business, where it expanded with the acquisition of a private market boutique two years ago.
Bellevue said its assets rose by nearly one-third on the 10 billion francs it managed at this time last year. The rise was due to investment performance as well as demand from investors for specialized strategies, especially those related to healthcare, it said.
