Brooks Macdonald FUM hits £8bn

London AIM-listed Brooks Macdonald Group, which provides UK and international investment management services, has announced it has added another net £241m in discretionary funds under management through the first quarter of the year, taking total funds under management over the £8bn level.

The growth in assets comes after the company reported growth in its second-half 2015 pre-tax profit of 22%, leading to a 20% rise in the interim dividend paid out, as compared with the same period in 2014.

It also reported a 12% rise in DFM assets over the period against the year-earlier period. The quarterly increase equals a 2.37% rate of growth in DFM assets, Brooks Macdonald states, albeit it notes that while net new business was up £241m, the performance contributed a negative £-56m.

The group now has third party assets under administration above £260m, up from about £245m as of 31 December 2015.

Then, chairman Christopher Knight stated in the results report that: “Asset Management continues to grow its professional connections and now works with over 900 introducing firms who refer new business to the Group. Internationally, Brooks Macdonald continues to gain positive traction in South Africa from a distribution  perspective, managing the assets won out of its offices in the Channel Islands.”

“Brooks Macdonald’s Funds business continues to gain traction and increase its FUM, with particular momentum within its Multi-Asset Fund (MAF) range.”

The group has twelve offices across the UK and the Channel Islands including London, Edinburgh, Guernsey, Hale, Hampshire, Jersey, Leamington Spa, Manchester, Taunton, Tunbridge Wells and York.

£m

 

Opening discretionary FUM (Dec 15)7,822
Net new discretionary business241
Acquisitions0
Investment growth(56)
Total FUM growth185
Closing FUM (March 2016)8,007
Organic growth (net of markets)3.08%
Total growth2.37%

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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