Vontobel (VONN) Q1 2025 TU earnings summary

Executive summary

• Assets under management rose to CHF 235.1 billion as of March 31, 2025, up CHF 6.0 billion from year end 2024, reflecting 2.6% growth.

• Net new money was positive at CHF 0.6 billion, with strong inflows from Private Clients offsetting Institutional outflows.

• Growth was driven by the IHAG client book acquisition, favorable market performance, and continued strength in key private client markets.

Segment performance

• Private Clients segment delivered CHF 2.4 billion in net new money, supported by mandate solutions and key market inflows.

• Institutional Clients segment experienced net outflows of CHF 1.8 billion, as fixed income inflows were outweighed by active equity outflows.

Risk factors and uncertainties

• Political uncertainty and elevated market volatility characterized the first quarter, impacting client flows and investment performance.

• Forward-looking statements are subject to risks that actual results may differ from projections.