Close Brothers Asset Management has hit £9bn in assets under management (AuM) at the end of June 2013, an increase of 1.2% from £8.9 billion on 31 January 2013.
According to a trading statement from the firm, the increase was principally from new business inflows as well as positive market movements.
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The company added that growth in asset management continued revenue margin improvement, largely reflecting stronger initial fees.
The group said the banking division continued to perform strongly with a year-to-date loan book growth of 11% to £4.6 billion as at 30 June 2013.
The loan book increased by a further 5% in the five months to end of June thereby reflecting good growth particularly in motor finance and asset finance.
Meanwhile, trading performance in the group’s securities division improved slightly relative to the first half, although market conditions continued to be mixed.
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By GlobalDataThe statement said while Winterflood experienced stronger volumes, trading was more volatile and retail investors remained more focused on lower risk and large cap stocks. As a result, income per bargain reduced, partially offsetting the increase in average bargains per day.
