Brooks Macdonald Group has seen discretionary funds under management increase 4.2 per cent to £5.93bn in the first quarter of this year due to a combination of performance and net new business.
This represents all its discretionary funds across the group including asset management, funds and international, the Aim-listed wealth manager said.
Furthermore, Brooks Macdonald’s quarterly update, revealed that as at 31 March advisory funds under management totalled £413m, up 10.5 per cent on the end of 2013.
The group’s property management business Braemar Estates had property assets under administration of £1,137bn, an increase of 6.27 per cent on the end of last year.
Third party assets under administration are now in excess of £180m.
Chris Macdonald, chief executive of Brooks Macdonald, said: “Despite flat markets in the first quarter, we have made good progress in growing assets under management in all areas of the business. Overall, in our financial year to date, discretionary funds under management have risen 16 per cent.
“The acquisition of DPZ Capital at the start of the new quarter has expanded our International business based in Jersey and adds a further c.£360m of funds under discretionary management. The acquisition of DPZ is a further exciting development for the group.”
