Brooks Macdonald Share News (BRK)

Wealth management firm Brooks Macdonald said that trading was in line with expectations in the first half with revenues and profits both ahead of last year.The AIM-listed group said "strategic progress [was] made through both organic and acquisitive initiatives" during the six months to December 31st 2013.Discretionary funds under management - which comprise asset management, funds and international - totalled £5.68bn by the end of the period, up from £5.37bn at September 30th 2013, representing 5.7% growth quarter-on-quarter.The company said that this growth was a combination of performance (around £160m) and net new business (£150m) over the quarter."The first half of our financial year has seen good progress made across the group, with strong organic growth in funds under management aided in part by positive investment conditions," said Chief Executive Chris Macdonald.BC