ZURICH: Swiss private bank Julius Baer said on Tuesday its assets under management fell 1 percent to 289 billion Swiss francs ($311.93 billion) in the first four months of the year.

In an interim management statement, the Zurich-based wealth manager said net new money was at the low end its medium-term target of between 4 percent and 6 percent on an annualised basis.

Julius Baer's cost to income ratio, a key efficiency measure for banks, improved to a level just below its target range of between 65 percent and 70 percent.

Copyright Reuters, 2015