Brooks co-founder steps down from board as FUM jumps 6.5%

Brooks Macdonald co-founder Jonathan Gumpel is to stand down from the group's board, marking the end of a quarter which saw discretionary funds under management rise 6.5%.

Discretionary FUM totalled £3.75bn as of 30 September, Brooks said in an interim update, a 6.5% rise on the £3.5bn figure reported for the previous quarter. That compared with a 2.45% gain in the APCIMS balanced index over the same period. That figure includes Brooks Macdonald Funds but excludes the group's new investment management administration business and property division Braemar Estates. Gumpel, meanwhile, who was a founder director of Brooks Macdonald in 1991 and oversees investment strategy at Brooks Macdonald AM, is to step down from the group's board at today's AGM to ac...