Close Brothers AM eyes acquisitions as hiring spree drives inflows surge

Total assets fell to £17bn

Valeria Martinez
clock • 1 min read

Close Brothers Asset Management’s hiring spree of bespoke investment managers has contributed to a 10% rise in year-to-date annualised net inflows, as the firm puts “in-fill” acquisitions on the radar.

Annualised inflows were up slightly from 9% during the 2023 financial year, although the asset manager noted the hiring strategy "continues to impact CBAM's cost base in the near term". CBAM has been a beneficiary of the exodus from Investec Wealth & Investment this year, hiring a raft of investment professionals who have departed the firm since news of its takeover by rival Rathbones was announced in April. Close Brothers AM restructures senior investment leadership In a trading statement published today (16 November), CBAM reported a decrease in managed assets from £16.4bn in 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


More on Companies

The company reported an adjusted pre-tax profit of £455m last week, compared to an expected £441.6m and well ahead of the previous year’s loss of £178m.

Stock Spotlight: easyJet soars to profitability as dividend return opens stock to income seekers

Recovering from pandemic lows

Elliot Gulliver-Needham
clock 05 December 2023 • 3 min read
Richard Goodall, Marlborough’s CEO (pictured).

Marlborough rebrands business in 'ambitious' growth drive

Centralised under one brand

Laura Miller
clock 05 December 2023 • 1 min read
Mike O'Shea (pictured) is Premier Miton's chief executive officer.

Premier Miton takes 60% profit hit as net outflows climb to £1.1bn

Demand for equity funds fell 37%

Valeria Martinez
clock 05 December 2023 • 2 min read