After a slow start of the year, the two Swiss private banks have posted a decline in structured product assets under management amid lowered volatility in H1 2023.
Julius Baer saw AuM increase four percent to CHF441 billion (US$510.7 billion) as of 30 June year-on-year (YoY). The growth was driven by ‘net positive developments in global equity and bond markets and net new money inflows, partly offset by a net negative currency impact resulting largely from the strengthening of the Swiss franc against the US dollar and the euro’, according to the bank’s H1 2023 earnings report. In H1 2023, FX, precious metals and structured products-rel