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...
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