Reports
UK’s Close Brothers Reveals Boost In Assets Under Management
Close Brothers Group has seen a 4 per cent rise in assets
under management, following strong performance in the third
quarter to end-April.
The amount increased from £8.9 billion ($13.4 billion) in January
to £9.2 billion in April, marking a 10 per cent rise year to
date, and reflecting positive market movements and positive net
flows, said the firm.
The revenue margin also increased slightly from the first half
and Close Brothers will continue to focus on improving the mix
towards higher margin assets, it said in a statement.
Looking ahead, the London-listed firm said it expects the asset
management division to remain on track and deliver a small profit
for the full year.
Similarly, the banking division continued to deliver solid growth
with the loan book increasing to £4.5 billion, up 9 per cent year
to date. Growth has remained slightly lower than last year due to
a moderation in demand in some of the firm’s markets.
