(Reuters) -Vontobel Holding on Thursday said assets under management had increased to 235.1 billion Swiss francs ($283.80 billion) in the first quarter of 2025, but disappointing outflows from institutional clients weighed on shares.
Assets under management grew by 2.6% compared to year-end 2024, largely driven by the acquisition of private bank IHAG’s client book and market performance, Vontobel said.
In a three-month 2025 trading update, the Swiss private bank reported total net new money of 0.6 billion francs, missing Zuercher Kantonalbank’s forecast of 1.4 billion francs.
Shares were down by around 5% at 0728 GMT.
The private clients segment had delivered inflows of 2.4 billion francs, while the institutional clients segment posted net outflows of 1.8 billion francs, the bank said.
“Vontobel’s 1Q25 trading update is a mixed bag, and likely weaker-than expected,” analysts at Citi said in a briefing.
($1 = 0.8269 Swiss francs)
(Reporting by Ariane Luthi, Editing by Rachel More)
