Julius Baer said its inflows of money from clients in key markets accelerated from the midyear point, and signaled a brighter outlook for the year ahead with higher profit and potential shareholder returns.

The Swiss private banking group on Thursday said that its assets under management stood at 480 billion Swiss francs ($542.86 billion) at Oct. 31, a 12% on-year increase that was driven by strong stock markets and net inflows.