Julius Baer Reports Good First-Half 2017; Strong Inflows From Asia and ME Help AUM Increase 6%
Wide-moat Julius Baer reported good first-half results as the company accelerates its business in Asia. Adjusted net profit increased 28% to CHF 404 million, excluding the Kairos acquisition and pension-fund-related items, despite gross margins remaining flat. The investment in additional relationship managers last year is starting to reap benefits, though, contributing to net inflows of CHF 19 billion, or 6%, in the first six months, with a 15% increase in operating income year over year. Follo...
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