Investments  

Close Brothers asset management arm sees AUM rise

Close Brothers asset management arm sees AUM rise

The asset management arm of Close Brothers saw assets under management climb 7 per cent to £10.4bn in the year to date, according to a trading update ahead of its full year results.

The group cited “continued steady progress” in its asset management business, with “solid” net inflows in spite of negative market movements in June, it said.

Close Brothers said its securities business, Winterflood, had benefited from improved trading conditions and increased investor risk appetite in the five months to June 30, compared to the first half of its financial year.

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It also pointed to “good returns” in its banking division, with its loan book up 4.4 per cent in the five months to June 30 and up 7.7 per cent to £5.7bn in the year to date following growth in property, asset and motor finance.

The group is due to release its full year results for the 12 months to July 31 2015 on September 22.