Vontobel unit Twentyfour Asset Management has increased assets under management by a quarter so far this year – thanks in no small part to the tightly knit distribution network of the Swiss private bank.
Assets under management at fixed-income boutique Twentyfour Asset Management have increased by 2.5 billion Swiss francs to about 12.5 billion francs since January 2017, Vontobel said in a statement today.
The company and its CEO Mark Holman are profiting from the global distribution network of Bank Vontobel. The boutique has received 1.5 billion of the 2.5 billion in new assets through the Vontobel network. The new money in large parts has come from Switzerland, Italy and Germany.
U.S. Expansion
Twentyfour Asset Management last year opened a branch in New York, the first in the U.S. In April, the company together with its U.S. distribution partner Beacon launched its first U.S. investment fund.
Vontobel in March 2015 bought about 60 percent of Twentyfour Asset Management. At the time, the company managed about 6 billion francs.
