Brooks Macdonald Group saw a 5.1% increase in discretionary FUM in the third quarter of 2017, according to its latest results.
FUM rose from £10.5bn on 30 June 2017 to £11bn at the end of September. This growth was a combination of net new business at £376m and performance at £155m. Brooks Macdonald is currently incorporating its funds business into its UK investment management operations. For this part of the group, net new discretionary business was £329m, while performance-related gains were £148m and the organic growth rate was 3.7%. Meanwhile, growth was also seen within the firm's international business, which saw £48m of net inflows, £7m of performance-related gains and 3% organic growth. Comment...
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