Julius Baer Falls as Asset Growth Slows to Three-Year Low
- Market volatility, weaker new money weigh on assets, fees
- Helvea says shares look fairly valued on ‘normalized’ growth
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Julius Baer Group Ltd. fell in Swiss trading as assets under management grew at the weakest pace in three years, rekindling concern that the wealth manager may not be able to sustain past growth rates.
The Zurich-based bank’s stock fell as much as 5.2 percent -- the biggest decline since February -- after reporting a 3 percent increase in assets from the end of 2017, to 400 billion francs ($403 billion). That was slightly below analyst estimates, according to UBS Group AG. Clients added new money at the slowest pace since the end of 2016.