Brooks Macdonald saw record discretionary funds under management (FUM) of £12.4bn at the end of June on the back of strong net new business and robust investment performance.
In its trading update for the financial year ended 30 June 2018, the AIM-listed investment management group said discretionary FUM was up 18.7% over the year, an increase from £10.5bn on 30 June 2017, and up 6.5% over the quarter. Net new business was up 13.1% in the year with UK investment management seeing flows of 16.5% in the bespoke portfolio service (BPS) and 36.5% on the platform managed portfolio service (MPS). Brooks Macdonald International (BMI) saw new business increase from 1.3% in the last financial year to 6.4%. Brooks Macdonald adds further £5.5m to Spearpoint legac...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
