Last checked at 20 Oct 2016 07:00
20 October 2016
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
Brooks Macdonald Group plc (the "Group"), a leading UK investment management group, today announces an update on its funds under management for its first quarter ended 30 September 2016.
Funds under Management
Discretionary
As at 30 September discretionary funds under management totalled GBP £8.922 billion, an increase of 7.5% in the quarter (30 June 2016: £8.301 billion). As a comparison the WMA balanced index increased by 5.2% over the quarter.
This represents all the discretionary funds managed by the Group (Asset Management, Funds and International) and this growth was a combination of performance (£451m) and net new business (£170m).
Analysis of discretionary fund flows over the quarter
£m
| |
Opening discretionary FUM (Jun 16) | 8,301 |
Net new discretionary business | 170 |
Acquisitions | 0 |
Investment growth | 451 |
Total FUM growth | 621 |
Closing FUM (September 2016) | 8,922 |
Organic growth (net of markets) | 2.0% |
Total growth | 7.5% |
The Group will announce its property assets and third party assets under administration half yearly going forward.
Chris Macdonald, Chief Executive of Brooks Macdonald, commented:
"Following on from our annual results announcement last month, we have continued to make good progress in the first quarter of our new financial year, with further organic growth in discretionary funds under management. This has been achieved in spite of a period of weak client sentiment immediately post the EU referendum."
"Notwithstanding potential market volatility, we look forward with confidence as we continue to leverage the growing strength of our brand, investment offering and professional intermediary relationships."
The Group has also today separately announced a Directorate change.
Enquiries to:
Brooks Macdonald Group plc Chris Macdonald, Chief Executive Simon Jackson, Finance Director | 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 / Giles Robinson
| 020 3128 8100 |
Notes to editors
Brooks Macdonald Group plc, through its various subsidiaries, provides leading 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 £8.30bn as at 30 June 2016.
Through its core divisions, Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as offshore fund management and administration services and acts as fund manager to regulated OEICs, providing specialist funds in the property and structured return sectors and managing property assets on behalf of these funds and other clients.
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.