Vontobel (VONN) Q3 2025 TU earnings summary

Executive summary

• Achieved total net new money inflows of CHF 3.2 billion in the first nine months of 2025, with strong contributions from Private Clients and continued positive client activity.

• Assets under management rose 4.6% year-to-date to CHF 239.7 billion, supported by market performance, net inflows, and successful client book integration.

Financial highlights

• Assets under management increased from CHF 229.1 billion at year-end 2024 to CHF 239.7 billion by September 2025.

• Private Clients saw inflows of CHF 4.7 billion, representing 5.7% annualized growth, at the upper end of the 4-6% target.

• Institutional Clients experienced net outflows of CHF 2.0 billion, with positive flows in Fixed Income offset by Equities outflows.

• Market performance contributed CHF 15.3 billion to AUM, while foreign exchange effects reduced AUM by CHF 9.6 billion.

• Integration of the IHAG client book added CHF 1.8 billion to AUM.

Outlook and guidance

• Private Clients inflows at the upper end of the 4-6% growth target, with positive flows in all regions.

• Forward-looking statements highlight risks that forecasts and projections may not materialize as expected.