Close Brothers Group’s assets under management (AUM) grew by 4% to £9.2 billion in the three months to 30 April 2013, from £8.9 billion at the end of January 2013, an increase of 10% year on year.
The group said the increase was due to a combination of markets moving higher and positive net flows.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Close Brothers Group’s revenue margin for the asset management business also saw a slight increase from the first half.
The group in its interim statement said it will "continue to focus on improving the mix towards higher margin assets".
Looking ahead to the rest of the year ahead, the group said it expects the asset management arm to report a small profit for the year as a whole.
During the quarter, the group’s banking division maintained its strong performance, consistent with the first half. The loan book increased 2% to £4.5 billion, from £4.4 billion at the end of January 2013, driven by growth in motor finance and the Commercial businesses, and is up 9% year to date.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
