Close Brothers AM eyes acquisitions as hiring spree drives inflows surge

Total assets fell to £17bn

Valeria Martinez
clock • 1 min read

Close Brothers Asset Management’s hiring spree of bespoke investment managers has contributed to a 10% rise in year-to-date annualised net inflows, as the firm puts “in-fill” acquisitions on the radar.

Annualised inflows were up slightly from 9% during the 2023 financial year, although the asset manager noted the hiring strategy "continues to impact CBAM's cost base in the near term". CBAM has been a beneficiary of the exodus from Investec Wealth & Investment this year, hiring a raft of investment professionals who have departed the firm since news of its takeover by rival Rathbones was announced in April. Close Brothers AM restructures senior investment leadership In a trading statement published today (16 November), CBAM reported a decrease in managed assets from £16.4bn in the...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Hurst Point promotes Ben Conway to Hawksmoor CIO in exec team reshuffle

Hurst Point promotes Ben Conway to Hawksmoor CIO in exec team reshuffle

Managing director John White to exit

Hope Coumbe
clock 12 February 2024 • 2 min read
Update: Woodford scheme of arrangement sanctioned by High Court

Update: Woodford scheme of arrangement sanctioned by High Court

Appeal process open until 23 February

James Baxter-Derrington
clock 09 February 2024 • 3 min read
Hiro Metaverse Acquisitions SPAC delists following failure to identify merger target

Hiro Metaverse Acquisitions SPAC delists following failure to identify merger target

London Stock Exchange

Cristian Angeloni
clock 08 February 2024 • 1 min read
Trustpilot