Brooks Macdonald Asset Management

Brooks Macdonald has reported a 16% increase in interim pre-tax profit as assets under management near the £6bn mark.

Brooks Macdonald Asset Management is to offer clients of adviser Prosperity exclusive access to portfolio services.

Brooks Macdonald is set to launch an actively-managed UCITS core property fund aiming to achieve yields of up to 5.5% via its new joint venture North Row Capital.

Brooks Macdonald has signed an option agreement to acquire Levitas Investment Management for up to £24m.

Brooks Macdonald International has launched a managed portfolio service for advisers' international investors.

Wealth manager Brooks Macdonald said today assets under management had risen more than 5% in the last quarter, as a combination of market gains and inflows lifted the total.

Brooks Macdonald, the AIM-listed wealth management group, reported pre-tax profits were up 22% for the year ending June 2013, although it warned of future pressures on margins.

Brooks Macdonald has reported 45% growth in discretionary funds under management for the year to June but warned the costs of investing in the business will drag on margins in 2014.

City Financial's Leigh Himsworth has sold out of Brooks Macdonald and switched into Ashcourt Rowan, following a run up in the price of shares in the former which has left them at 'expensive' levels.

Brooks Macdonald has reported a 7.6% in discretionary funds under management as rising markets and inflows pushed assets towards the £5bn mark.