Last checked at 26 Oct 2018 07:00
26 October 2018
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
Brooks Macdonald Group plc (the "Group"), the AIM listed investment management group, today publishes its quarterly update on its discretionary Funds Under Management ("FUM") for the first quarter ended 30 September 2018.
As at 30 September 2018 FUM totalled £12.8 billion, an increase of 3.0% over the prior quarter (30 June 2018: £12.4 billion). This was driven by net new business (+£158m) and investment performance (+£211m). As a comparison the MSCI WMA Private Investor Balanced Index increased by 1.0% over the period.
Within these total figures, UKIM maintained a healthy rate of organic growth and had total growth of 3.6% to £11.1 billion. BMI experienced net outflows, following the departure of one of its client-facing teams, as described in the FY 2018 full year results statement, and closing FUM was down 1.1% to £1.7 billion.
Year-on-year as at 30 September 2018, FUM increased by 16.4% (30 September 2017: £11.0 billion).
Analysis of discretionary fund flows over the quarter
Quarter to 30 September 2018 | |||
£m |
UKIM
|
BMI |
TOTAL |
Opening FUM | 10,722 | 1,693 | 12,414 |
Net new business | 211 | (52) | 158 |
Performance | 177 | 34 | 211 |
Closing FUM | 11,110 | 1,674 | 12,784 |
Organic growth | 2.0% | (3.1)% | 1.3% |
Total growth | 3.6% | (1.1)% | 3.0% |
Caroline Connellan, Chief Executive of Brooks Macdonald commented:
"We have maintained positive momentum in our UK business over the first quarter, with good organic growth despite softer client sentiment in light of the current macroeconomic environment.
"We were also pleased to start the new financial year with the opening of our East Anglia office in Bury St. Edmunds and the launch of our Responsible Investment Service.
"The ongoing strength of our investment performance has been particularly pleasing, driven by our Centralised Investment Process and the expertise within our teams. High quality active investment management is of particular importance in what continue to be difficult market conditions and we remain focussed on continuing to meet our clients' and advisers' expectations."
Enquiries to:
Brooks Macdonald Group plc Caroline Connellan, Chief ExecutiveBen Thorpe, 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 / Charlie Barker
| 020 3128 8540 |
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 £12.8bn as at 30 September 2018.
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 investment management and acts as fund manager to regulated OEICs providing specialist funds in the property and structured return sectors.
The Group has thirteen offices across the UK and the Channel Islands including London, East Anglia, Hampshire, Leamington Spa, Manchester, Taunton, Tunbridge Wells, York, Scotland, Wales, Jersey, and Guernsey.
LEI: 213800WRDF8LB8MIEX37