Aim-listed Brooks Macdonald has reported a 25.8% year-on-year increase in total discretionary funds under management (FUM), reaching £11.7bn at 31 December 2017, but said statutory profits fell due to a £5.5m increase in the provision for resolving its Spearpoint legacy matters.
The group said the rise in FUM led to a 10.9% rise in revenues from £44m in the half-year ended 31 December 2016 to £48.8m or the same period in 2017. However, statutory profit before tax fell from...
AUM growth of 19% in first half of 2018
Move to improve access to institutional managers without a retail fund
Launching fund end of 2018
Purchased for undisclosed sum