Close Brothers' asset management arm has seen asset inflows equal to an annualised growth of 8%, as the firm reported "good momentum" in its latest trading update ahead of its half year end on 31 January.
The latest results have met market expectations, but the market opened on Friday (21 January) with Close Brothers shares down 1.1% in early trading. Close Brothers Asset Management delivered strong growth in the five months to December 2021 as it benefited from rising markets. Assets under management grew to £16.16bn from £15.6bn in July, while total client assets added £1bn and hit £18bn over the period. In the trading update, the group also reported loan book growth at strong margins in its banking division. Ratios with the Core Equity Tier 1 capital position remained steady at 15.7...
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