Close Asset Management

Focus on European and South East Asian equities

Discretionary range driving growth

Mixed reactions to 'radical' plans

Close Brothers Asset Management has reported a 4% rise in assets in its latest quarterly report, pushing total assets closer to the £10bn mark.

ON NORTH AMERICA

Deryck Noble-Nesbitt has left Close Brothers Asset Management as the firm winds up his Special Situations fund.

Close Brothers has reported positive net flows into its asset management division, with assets under management up 10% year to date.

Chris Bailey, the manager of Close Brothers Asset Management's Growth and Conservative funds, has stepped down from the group.

The asset management division of Close Brothers, comprising both advised and managed solutions for clients, turned a profit in the six months to February thanks partly to a 6% increase in overall assets under management.

Former Close Asset Management executives have launched a property and tax planning investment management business called TIME Investments.