Bellevue Group with half-year operating profit of CHF 6.8 mn - increase of assets under management to new high of close to CHF 7 bn

Bellevue Group AG / Bellevue Group with half-year operating profit of CHF 6.8 mn - increase of assets under management to new high of close to CHF 7 bn . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

• Group operating results down 32% to CHF 6.8 mn
• Increase in assets under management of 30% to CHF 6.9 bn
• Broad-based inflows of CHF 126 mn in net new assets
• Asset Management broadens its operating activities with the acquisition of StarCapital AG
• Further earnings erosion at Bank am Bellevue

The poor start into the new investment year due to slower growth momentum in China and the oil price development cast a shadow over the investment horizon right from the outset. Additional negative factors were the sluggish pace of global economic growth and the tensions arising from geopolitics in Russia and the Middle East. Investor confidence was also undermined by the prospect of the UK leaving the European Union and, to the surprise of most observers, the Brexit option became reality. Central banks proved to be the single most positive factor for financial markets, despite initial indications that they might distance themselves from their full-fledged commitment to monetary expansion.

Bellevue Group continues to diversify its income flows and expertise

Bellevue Group made further strategic progress amid a very volatile environment. The acquisition of the German independent asset manager StarCapital AG, consummated in June, broadens Bellevue Group's knowhow in non-healthcare areas within the fixed income, multi-asset fund and ETF fund-of-funds investment segments. Its base in Frankfurt am Main region also strengthens the Group's position in a key European market, which management intends to steadily expand. Bellevue Group's first-ever capital increase was successfully conducted during the reporting period to finance the acquisition of StarCapital. The issue of approximately 3 mn new registered shares raised CHF 32.9 mn in gross proceeds. This additional capital will also provide the Group with the strategic and financial flexibility it needs to continue its growth strategy.