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November 17, 2017

Close Brothers AuM rise to £9.5bn in Q1

British wealth manager Close Brothers said that its assets under management (AuM) totalled £9.5bn in the first quarter ended 31 October 2017, a rise of 6% compared to £8.9bn as at 31 July 2017.

Total client assets were £11.7bn at the end of October 2017, up from £11.2bn at the end of the year ago quarter.

In the company’s banking division, loan book rose by 1% to £7bn. The company attributed the rise to growth in property and premium finance. The Asset and Motor Finance loan books remained broadly flat.

Winterflood, the group’s securities arm, benefitted from continued retail investor trading activity, the company said in its trading update.

“We achieved a good performance in the first quarter and, at this early stage, remain well positioned for the remainder of the financial year,” the firm noted.

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