Switzerland’s Vontobel has reported that for the third quarter, ended 30 September 2013, it had a total of SFr160.4 billion ($257.68 billion) of assets under management, which, despite strong market and foreign exchange volatility, is a figure that remains virtually unchanged since the end of June 2013, comparatively.

The firm’s asset management business displayed sustained strong earning power, with an unchanged gross margin, which stands at 52 basis points.

“We experienced a slowdown in the inflow of new money, as we had anticipated. At the same time, the systematic implementation of our previously defined business strategy proved to be the right course of action. I am convinced that we are thus creating sustained added value for our clients and shareholders," said Vontobel chief executive Zeno Staub with regard to the first nine months of the financial year.

Meanwhile, Vontobel said that the new money acquired by asset management in the first half of 2013 reached a record total of SFr7.2 billion.