On Wednesday 16th August, LGT Group announced its half-year results, reporting strong net asset inflows and maintaining its financial stability. We are pleased to share with you the key takeaways.
Assets under management increased in the first half of 2023 and LGT remains well positioned to achieve further profitable growth for the full year 2023.
In the first half of 2023, global markets were characterised by persistently high inflation rates and an uncertain economic outlook. In this environment, LGT continued to expand its client business and increase profitability, benefitting from a higher asset base, rising interest rate levels and the bank’s stronger international presence.
In the first half of 2023, LGT recorded very strong net asset inflows of CHF 15.8 billion, to which all regions and locations contributed. As of 30 June 2023, assets under management increased to CHF 305.8 billion and for the first time in LGT’s history, exceeded the CHF 300 billion mark. This corresponds to a 6% increase in assets under management compared with year-end 2022 and was driven by strong net asset inflows and positive market performance, partially offset by negative foreign currency effects.
LGT is confident that it will continue to leverage its wealth advisory and investment expertise to achieve profitable growth for the full year 2023. The bank will thereby build on its broad international network of locations in Europe, Asia, the Americas, Australia and the Middle East, as well as its comprehensive range of investment solutions with a strong focus on sustainable offerings.
As part of its long-term growth strategy, LGT will continue to focus on strengthening its international platforms. LGT is also placing a clear focus on developing modern digital products and services to enhance the client experience across a wide range of channels and is investing CHF 200 million over the next five years to this end.
Ten years ago I would never have dreamt that we would one day be considered one of the best youth orchestras in the world. My dream is to continue to do this work and to be able to offer this unique platform to the next generation of young musicians.