Close Brothers sees asset management profits climb

New chairman announced

Daniel Flynn
clock • 2 min read

Close Brothers Group saw profits in its asset management arm increase by 8% to £9.1m in the six months to the end of January, reflecting rising net inflows and "favourable" trading conditions.

Excluding OLIM Investment Managers, which was sold in November, and its corporate business sold in 2016, Close Brothers said its asset management saw underlying profits increase 26% to £7.2m over six months to 31 January 2017, up from £5.7m a year previous. Meanwhile, operating income increased 7% to £50.1m, with investment management income up 9%, driven by an increase in managed assets over the past year. As of 31 January, Close Brothers asset management arm had total assets of £105.7m following inflows of £795m and outflows of £670m, bringing total net flows to £125m. The ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Trium Capital's Donald Pepper: Tariff tide reveals those swimming uncorrelated

Trium Capital's Donald Pepper: Tariff tide reveals those swimming uncorrelated

'Conventional diversification no longer provides adequate protection'

Donald Pepper
clock 30 April 2025 • 4 min read
Event Voice: Your questions answered by FSSA Investment Managers at the Emerging Markets Conference

Event Voice: Your questions answered by FSSA Investment Managers at the Emerging Markets Conference

Angus Sandison, Investment Analyst, FSSA Investment Managers
clock 24 April 2025 • 3 min read
US M&A spending jumps 50% in March as deal volume declines

US M&A spending jumps 50% in March as deal volume declines

Near 6% drop in number of deals happening

Eve Maddock-Jones
clock 23 April 2025 • 1 min read
Trustpilot