The Zurich-based Bellevue Group is updating its group management after its net profit fell to CHF 15.2 million.
The group, which published its 2023 annual report on Tuesday, found net profit fell 40% year-on-year, which it said was market driven.
Bellevue’s assets under management fell from CHF 9.4 billion to CHF 6.9 billion. The 26% drop was approximately half due to negative absolute investment performance and half due to client reallocations. Here, customer redistribution significantly outweighed gross net new money.