Last checked at 24 Oct 2017 07:00
24 October 2017
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
Brooks Macdonald Group plc (the "Group"), the AIM listed UK investment management group, today announces an update on its funds under management (FUM) for its first quarter ended 30 September 2017.
Funds under Management
Discretionary
As at 30 September 2017 discretionary FUM totalled GBP £11.0 billion, an increase of 5.1% over the quarter (30 June 2017: £10.5 billion). As a comparison the MSCI WMA balanced index increased by 0.8% over the quarter.
This represents all the discretionary funds managed by the Group (Investment Management, Funds and International) and this growth was a combination of net new business (£376m) and performance (£155m).
Analysis of discretionary fund flows over the quarter
Our Funds business is in the process of being incorporated into UK Investment Management and accordingly the combined FUM is presented below, whilst splitting out International as a separate segment.
£m |
IM
|
BMI |
TOTAL |
Opening discretionary FUM (June 17) | 8,927 | 1,529 | 10,456 |
Net new discretionary business | 329 | 48 | 376 |
Acquisitions | 0 | 0 | 0 |
Performance | 148 | 7 | 155 |
Closing FUM (September 2017) | 9,404 | 1,584 | 10,987 |
Organic Growth | 3.7% | 3.0% | 3.6% |
Total growth | 5.3% | 3.6% | 5.1% |
Caroline Connellan, Chief Executive of Brooks Macdonald, commented:
"I am pleased to report that we have seen continued momentum through the first quarter of our new financial year, with strong net new business and portfolio performance, resulting in FUM increasing in all core offerings."
"We are maintaining our focus on capturing the significant growth opportunities open to us while progressing our investment in the business to provide a stronger platform for future growth. Notwithstanding our continued caution around markets and client sentiment, we look forward with confidence."
Enquiries to:
Brooks Macdonald Group plc Caroline Connellan, Chief Executive Simon Jackson, Finance Director Andrew Shepherd, Deputy Chief Executive | www.brooksmacdonald.com 020 7499 6424 |
|
|
Peel Hunt LLP (Nominated Adviser and Broker) Guy Wiehahn / Adrian Haxby
| 020 7418 8900 |
MHP Communications Reg Hoare / Simon Hockridge / Charlie Barker | 020 3128 8100 |
Notes to editors
Brooks Macdonald Group plc, through its various subsidiaries, provides wealth and investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary funds under management (FUM) of £11bn as at 30 September 2017.
The Group has eleven offices across the mainland UK and two in the Channel Islands including London, Cardiff, Edinburgh, Guernsey, Hale, Hampshire, Jersey, Leamington Spa, Manchester, Taunton, Tunbridge Wells and York.