Close Brothers’ assets up 4 per cent in three months

Close Brothers’ saw assets under management rise 4 per cent to £9.2bn in the three months to April 30, an increase of 10 per cent year on year.

The group said the increase was due to a combination of markets moving higher and positive net flows.

Close Brothers also saw a slight increase in revenue in the period but said that brokers Winterflood had “not yet seen a sustained improvement in retail investor risk appetite, particularly in the AIM and small cap sectors, but remains well positioned to benefit as conditions improve.”

It expects the asset management arm to report a small profit for the year as a whole.