Close Brothers AM nears £10bn in assets

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

The business has seen assets rise from £9.3bn as at 31 January to £9.6bn by the end of last month, with AUM up 6% for 2014 when January is taken into account. Close said its asset management division is continuing "to progress towards our profitability target as the business builds scale". The wider company's interim management statement also revealed a 10% increase in its banking business' loans book, which now stands at £5.1bn, and "consistent" performance at Winterflood. "Overall, our outlook is unchanged and we remain confident in delivering a strong result for the 2014 financi...