Close Bros AUM rises but low trading volumes hit Winterflood

Close Brothers Group has reported an uptick in funds under management in its asset management business, according to a trading statement released today.

However, it reported subsidiary Winterflood Securities, which describes itself as a liquidity provider and market maker, had suffered from low investor activity. The update covers performance in the five months to 31 December 2012 and comes ahead of a half-year report, due on 12 March, which will report on the six months to 31 January 2013. Overall, the firm said it had seen strong performance in its banking division, and progress within asset management, although trading volumes in securities remained subdued. Total assets under management increased 3% to £8.5bn between 31 July an...