Brooks Macdonald stemmed net outflows to £64m in its fourth quarter to 30 June, as the investment manager confirmed it was on track to meet its full-year expectations.
Brooks said funds under management (FUM) rose 12% to £13.7bn, up from £12.2bn at end March, due to strong investment performance and higher gross inflows, leading to reduced net outflows. The firm added it had success in "executing its strategy and ongoing cost discipline", leaving it on track to meet full-year guidance given in March. Brooks Macdonald snaps up Cornelian AM for £39m CEO Caroline Connellan hailed the improved net flows in Brooks' core UK discretionary business, and its continued reinvigoration of its international business, which will benefit from the June acquisiti...
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