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Business Report Distribution highlights

Distribution highlights

Bellevue has a strong and steadily growing client base in its domestic Swiss market and its core European markets of Germany and the UK. Its strategic secondary target markets of Austria, Spain, the Benelux and Italy, the most recently established secondary market, are showing dynamic growth. Recently, the market presence in Asia was strengthened.

Steady expansion in international markets

Switzerland, Germany and the United Kingdom are Bellevue Group's core markets. Spain is now its fourth-largest market with some CHF 800 mn in assets under management. Collaboration with the local Spanish partner atl Capital continues to be very rewarding. The Group's core product in the UK remains BB Healthcare Trust and a healthcare investment fund under UK law was recently launched to address a wider range of investors in this market. In Germany, closer collaboration with StarCapital's distribution team under the aegis of Bellevue continues to deliver positive results. In addition to large banks and funds of funds, inroads have been made into the family office segment. Bellevue also has a solid client network in Austria, and it is intensifying its presence in the Benelux. Several product strategies were recently introduced to the Dutch and Danish markets. Asia, led by Singapore and Hong Kong, both major hubs of international private banks, is becoming an increasingly prominent wealth management center. Bellevue has established a local Asian team that is responsible for sales in the region and for providing research inputs for the Group's healthcare products. Bellevue’s oldest product, BB Biotech AG, continues to enjoy strong demand from clients in Switzerland, Germany, the UK and Italy. Growing interest in healthcare sector investments led to high new money inflows, particularly during the first half of 2021.

Breakdown of assets under management by region

Source: Bellevue Group, December 31, 2021

Efforts to establish the Luxembourg-based funds in the new secondary target markets of Italy and Israel were impeded by pandemic-related travel restrictions. In the illiquid product segment, a private equity strategy was launched for the Swiss market. The BB Entrepreneur Private Fund provides growth financing to unlisted small and mid-sized Swiss companies and has attracted strong demand from prominent investors.

Within the scope of its growth strategy, Bellevue is planning to selectively develop new markets and target groups, strengthen its operating performance and grow its international presence. It is in the process of establishing a foothold in selected Latin American markets such as Chile and Peru, for example, through the recruitment of new talents for its sales team and through selective distribution agreements with local firms.



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