A Peel Hunt note issued today (15 October) has listed Brooks Macdonald Group as a 'buy', on the day the firm reports its quarterly trading update, despite outflows from its managed portfolio service (MPS) arm.
The analyst said said the MPS outflows were "as expected" given the challenging backdrop, adding that "there is clear upside, which will be further enhanced by a return to positive flow momentum which we expect overall in FY21." "Despite the operational progress over the last year, Brooks' share price has been held back by weaker flows and general market sentiment," the note said. In its quarterly update, Brooks Macdonald Group reported a 3.9% increase in funds under management (FUM) within the international arm of its business over the last financial quarter, as the business progress...
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
