View the article online at http://citywire.co.uk/wealth-manager/article/a729996
Close Brothers AUM nears £10 billion
by Robert St George on Jan 24, 2014 at 09:00
Assets under management (AUM) at Close Brothers are approaching the £10 billion mark following positive inflows late last year.
During the five months to 31 December 2013, total AUM at the firm increased by 4% to £9.5 billion due to both positive market movements and net inflows.
Close Brothers confirmed that the revenue margin within its asset management division, headed by Martin Andrew (pictured), had ‘remained broadly stable’.
In the group’s broking arm, Winterflood, Close Brothers reported higher income for the period, with a particular contribution from AIM trading.
Close Brothers disclosed too that its banking division had expanded its loan book through the five months by 4% to £4.8 billion, while improving its bad debt ratio and maintaining its net interest margin.
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