Brooks Macdonald revenues pass £61.9m following Lloyds funds acquisition

FUM grew to £17.3bn

clock • 1 min read

Revenues at fund manager Brooks Macdonald increased by 10.7% to £61.9m, up from £55.9m last year, it has revealed in its half year results for the six months ending December 2021.

According to the fund house, revenues were driven by positive net flows and its acquisition of Lloyds Banking Group's Channel Islands funds and wealth management business. Funds under management climbed to £17.3bn over the period, up 5.3% on the six months to 30 June, which closed at £16.5bn. Net flows over the six months climbed to £326m, up from £367m on the previous six months, with annualised net flows of 4.7% over quarter two, up from 3.1% in quarter one. Brooks Macdonald approached controller shareholder of 7IM for attempted takeover bid - reports The firm's discretionary ...

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