Close Brothers managed assets up 4%


Close Brothers Asset Management saw net inflows increase in its third quarter taking managed assets to £7.5bn.

The figure is up 4 per cent compared to £7.3bn in the previous quarter.

Total client assets increased 2 per cent to £9.3bn compared to £9.1bn in Q2.

In statement, the company said asset management delivered “a broadly stable revenue margin compared to the prior financial year”.

Securities business Winterflood experienced better market conditions in the latest quarter following a difficult first half, the company said, with increased profitability across all trading books reflecting a modest recovery in the equity markets and improved investor risk appetite.

The group, which also includes a banking division, says it is confident that it can build on its performance in Q3 to deliver a “satisfactory” result for the full year.