Following an extensive intra-group reorganisation, and as part of a strategic exercise to simplify and develop its asset management structur...

Following an extensive intra-group reorganisation, and as part of a strategic exercise to simplify and develop its asset management structure, Close Brothers Group has announced the launch of Close Investments. This reflects the expansion of the asset management division, which has been achieved through a mixture of organic growth and acquisition. The new company is an integration of Close Brothers Investment, Close Finsbury Asset Management, Reabourne Technology Investment Management and Close Investment, who collectively accounted for funds under management of £3.5 billion ($6.6 billion)at 31 July 2006. Under Rufus Warner as chief executive, Close Investments offers a mix of investment products and services, including: • open and closed ended property funds • open ended investment companies • investment trusts • inheritance tax mitigation products • generalist and AIM Venture Capital Trusts • UK smaller company and AIM investments • specialist technology, life sciences & fixed income funds. “For some time our funds business has operated through a number of specialist Close Brothers companies. Following this integration, Close Investments will enable us to broaden the scope of our fund management and investment activities,” said Mr Warner in a statement. He also expects clients to see immediate benefits such as one point of contact and improved service.