ZURICH, May 23 (Reuters) - Julius Baer's assets under management rose 10% to 471 billion Swiss francs ($515 billion) in the first four months of the year, the Swiss bank said on Thursday as it sought to put the fallout from its ties to collapsed property group Signa behind it.

Net new money increased by 1 billion Swiss francs ($1.09 billion) for the same period.

"After a negative start in January, net new money recovered meaningfully to a 3% annualised pace over the subsequent three months," the bank said. ($1 = 0.9144 Swiss francs) (Reporting by Noele Illien)