Close Brothers, the UK banking and asset management firm, said total funds under management rose by 19 per cent to £8.8 billion (around $14 billion) over the five months to 31 December last year compared with the position at the end of July, boosted by the acquisition of the Chartwell Group and higher market levels.

However, this segment of Close’s business made a “small loss”, the firm said in a trading statement. It did not elaborate on details.

Full results for the six months to 31 January will be issued on 15 March.

The firm said that in its banking division, its loan book logged 10 per cent growth to £3.2 billion in the five months to the end of December.

“Given the result year to date, overall we remain confident we will deliver a satisfactory performance for the 2011 financial year,” Close Brothers said in a statement.

Close completed its £17 million purchase of Chartwell, a firm based in Bristol with over £650 million of client assets, in late September 2010.