Close Brothers' assets inch higher as Winterflood bounces back

Close Brothers saw its assets under management creep higher in the five months to 31 December 2013, while broker arm Winterflood saw performance improve.

In a trading update ahead of the release of its half-yearly results on 11 March, the firm said it increased assets under management by 4% from £9.1bn to £9.5bn over the reporting period. This was due to a combination of positive market movements and net inflows. It also saw a similar 4% increase in its banking division's loan book, from £4.6bn to £4.8bn. Securities subsidiary Winterflood benefited from improved market conditions and increased retail investor trading activity, Close said. It saw particular improvement in AIM trading, which helped lift the business.  Close also said ...