Close AM makes 'small' loss after Chartwell deal

Total funds under management increased 19% to £8.8bn as a result of market movements and the acquisition, the group said in a trading statement. Meanwhile, the group's banking division saw loan book growth of 10% to £3.2bn. The bad debt ratio for the period was slightly higher relative to the second half last year due to the bad debt in its property portfolio, it said. However, for the 2011 financial year as a whole, the bad debt ratio is expected to be slightly down on 2010. "Given the result year to date, overall we remain confident we will deliver a satisfactory performance ...