Close Brothers AM net inflows and performance gains boost total assets to £19.6bn

Amid motor finance probe

Close Brothers Asset Management net inflows surged by 9% in the period from 1 February to the end of April, boosting total assets as the firm focuses on the growth of the arm.

In a stock exchange notice published today (22 May), CBAM's managed assets rose to £18.5bn – up from £17.7bn the previous quarter – while its total assets hit £19.6bn, £1.1bn higher than the £18.5bn reported at the end of January. The surge in net inflows came on the back of "marginally" improved market conditions, according to Adrian Sainsbury, CEO of Close Brothers, who argued that despite the "period of uncertainty, we are committed to executing our strategy and protecting our valuable franchise". Wage inflation hits Close Brothers Asset Management as profits shrink 27% Followin...