Harcourt Investment Consulting, the Swiss-based alternative investment manager majority owned by the Vontobel private banking group, has reported that assets under management reached USD5.

Harcourt Investment Consulting, the Swiss-based alternative investment manager majority owned by the Vontobel private banking group, has reported that assets under management reached USD5.5bn at the end of last year, reflecting growth of USD1bn during 2007.

Harcourt says its 22 per cent asset growth reflected investment from both existing and new clients, with the majority coming from institutions. At the end of last year institutional investment accounted for USD4.4bn, up from USD3.8bn at the end of 2006.

The firm says its consistent inflow of assets in 2007 stems from its excellent track record, the launch of new products and the acquisition of new mandates. Harcourt's outlook for 2008 is optimistic, with the growth in assets under management expected to continue.

Last year Harcourt celebrated its 10th anniversary and saw its workforce reach 90 professionals by year-end. In addition to its new mandates, the firm launched two new product lines, Belvista Commodity Funds and Belair SRI Funds, the latter being the first funds of hedge funds to adhere to the United Nations' Principles for Responsible Investment.

Founded in 1997, Harcourt is headquartered in Zurich with offices in New York, Hong Kong, Stockholm, Madrid, Geneva and the Cayman Islands.