Close Asset Management

The asset management division of financial services group Close Brothers made a loss in the six months to 31 January, as it finalises a restructure which has seen it launch an advised service and includes plans for a direct-to-consumer proposition.

Close Brothers AM is launching a discretionary fund management service that will be managed by top-performing UK equity manager Deryck Noble-Nesbitt.

Fund launches reached a decade low last year as groups held back new products in the face of market volatility.

Close Asset Management fixed income head Mark Parry has joined Aberdeen as a senior investment management within its multi-asset team.

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