Client assets at Close Brothers Asset Management have rebounded to £15bn at the end of 2020.

In today’s trading update, the firm reported total client assets increased from the £13.7bn reported in July 2020 due to favourable market movements.

The firm’s asset management arm reported a £1bn hit to client assets at the start of the global Coronavirus pandemic. In 2020 client assets fell from £14bn in January to £13bn three months later.

In this latest trading update, the firm reported annualised net inflows of 5.4% “despite reduced face-to-face interactive with clients arising from Covid-19”.

Managed assets increased to £13.9bn (July 2020: £12.6bn).

The company has a growing Financial Planning and wealth management arm employing more than 110 advisers in 10 offices across the UK.

Close Brothers appointed a new chief executive, Adrian Sainsbury, in September last year. 

Mr Sainsbury said: "We have delivered a strong performance year to date, with the positive trends reported at the end of the first quarter continuing. Our operational capabilities, financial resources and resilient model have enabled us to adapt to the changing environment, which together with the expertise and commitment of our people, have allowed us to continue to support our customers and clients.

“Although the external environment remains highly uncertain, with national lockdown restrictions currently in place, our proven model and significant experience leave us well positioned."