Summary of fiscal 2024
AuM reduced by around 17% compared to the previous year...
AuM reduced by around 17% compared to the previous year...
Change in AuM 2019 – 2024
Development of assets under management
- Assets under management down 17% or around CHF 1.2 bn compared to the previous year
- Healthcare strategies represent around 89% of assets under management
...with customer reallocations as the main drivers
...with customer reallocations as the main drivers
Development of AuM base in 2024
Development of assets under management
- Reduction due to client reallocations
- Gross new money won of around CHF 785 mn shows that our investment expertise continues to be sought after and appreciated
- Adjustment of investment strategies with lower net income
Asset Management service income declines with assets under management
Asset Management service income declines with assets under management
Operating income from asset management activities, 2019 – 2024
Development of income from asset management services
- Decline in revenues from asset management services of around 15% due to the lower average AuM base
- Average AuM base of around CHF 6.7 bn (prior year 8.2 bn)
- High proportion of recurring income (management fees)
- Only a small contribution from transaction-based fees and performance fees
Cost-income-ratio (CIR)
Cost-income-ratio (CIR)
Development of cost-income ratio (CIR)
(based on operating profit)
- Increase in cost-income ratio (CIR) to 76% due to lower earnings base
Continued solid capitalised and equity-financed balance sheet
Continued solid capitalised and equity-financed balance sheet
As at December 31, 2024 (consolidated)
* Balance sheet without leverage, debt relates to operating liabilities, accruals and deferrals
- Strong balance sheet creates resilience for difficult market phases, enables the launch of innovative products and allows for an attractive dividend policy