The Swiss wealth management firm issued its first-quarter assets and inflows data in a trading update.

Switzerland-headquartered Vontobel, which operates in several jurisdictions, said total assets under management rose to SFr235.1 billion ($283.6 billion) at the end of March this year from $229.1 billion at the end of 2024.

The firm said it had it delivered the rising AuM against a “backdrop of political uncertainty and elevated volatility.” Vontobel’s trading update set out AuM and inflows figures; it did not set out figures for metrics such as earnings in today’s trading update.

The AuM gain equates to 2.6 per cent growth, driven by the IHAG client book acquisition and market performance (SFr6.0 billion), net inflows (SFr600 million) and foreign exchange effects (-SFr6 million).

In early January, Vontobel completed its acquisition of the client book from fellow Swiss firm IHAG Privatbank, which oversees SFr3 billion ($3.53 billion) of client money.

Total net new money stood at SFr600 million. Private client business attracted SFr2.4 billion of net new money, driven by continued strong inflows in key markets and in mandate solutions. Institutional clients’ net outflows totalled SFr1.8 billion, as positive flows in fixed income were offset by outflows in active equities.