Last checked at 26 Apr 2017 07:00
26 April 2017
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
Brooks Macdonald Group plc (the "Group"), the AIM listed integrated investment management group, today announces an update on its funds under management for the third quarter ended 31 March 2017.
Funds under Management
Discretionary
As at 31 March discretionary funds under management totalled GBP £9.932 billion, an increase of 6.45% over the quarter (31 December 2016: £9.330 billion). Of this, 3.12% (£291m) was net new business and 3.33% (£311m) investment performance. As a comparison the WMA balanced index increased by 2.78% over the quarter.
This represents all the discretionary funds managed by the Group (Asset Management, Funds and International).
Analysis of discretionary fund flows over the quarter
£m
| |
Opening discretionary FUM (Dec 16) | 9,330 |
Net new discretionary business | 291 |
Acquisitions | 0 |
Investment Performance | 311 |
Total FUM growth | 602 |
Closing FUM (March 2017) | 9,932 |
Net new business | 3.12% |
Total growth | 6.45% |
Caroline Connellan, Chief Executive of Brooks Macdonald, commented:
"Having made reasonable progress during difficult conditions in the first half, the third quarter has showed continued momentum with further organic growth across all lines of discretionary fund management. Encouragingly, our Funds business reached £1bn during the period."
"Over the quarter our net new business improved to over 3% while performance for clients was positive on both relative and absolute bases. Whilst some concerns over client sentiment remain given the economic outlook, Brexit negotiations and upcoming elections, we are focused on maintaining the impetus during this final quarter of the year."
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 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 £9.93bn as at 31 March 2017.
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.