Close Brothers

The asset management division of financial services group Close Brothers made a loss in the six months to 31 January, as it finalises a restructure which has seen it launch an advised service and includes plans for a direct-to-consumer proposition.

Close Brothers AM is launching a discretionary fund management service that will be managed by top-performing UK equity manager Deryck Noble-Nesbitt.

Frank Potaczek of Close Brothers Asset Management looks at how passive investing has evolved and asks whether active index tracking is the future.

Financial services group Close Brothers has revealed its asset management division recorded a moderate loss and suffered a drop in assets in the second half of 2011 as the difficult market conditions hit investor sentiment.

Private bank Kleinwort Benson has completed its £26.4m acquisition of Close Brothers' offshore arm

Close Asset Management has made a 220p per share cash offer for AIM-listed IFA Cavanagh Group.

Private bank Kleinwort Benson will acquire Close Brothers Offshore Group (COG) in a £29.1m deal which will see its private wealth assets under management swell to £7bn.

Close Asset Management products are now accessible via the Boston Direct Management International platform.

Close Asset Management made a small loss in the five months to 31 December, due in part to the £17m acquisition of IFA Chartwell Group last year.

Advisers in New Zealand have formed a working party to look into the potential misselling of qualifying recognized overseas pension schemes (QROPS). Rex Cowley, head of marketing at Close Asset Management, gives us the lowdown...