Wealth management group Brooks Macdonald has announced that it expects to exercise its option to acquire Levitas Investment Management Services “imminently”.
The group revealed that the deal will expand its range of risk-adjusted funds and add further exposure to the pensions market.
In its results statement, the company hailed “another active year” following further organic and acquisition-led growth which saw discretionary funds under management total £6.55bn by June 30, up from £5.11bn at the end of June last year.
During the year, the group entered into a partnership, North Row Capital LLP, which launched the IFSL North Row Liquid Property Fund in February this year.
In April, the wealth manager confirmed the acquisition of Jersey-based wealth management business DPZ Capital, which it expects to be earnings enhancing in the year ending June 30 2015.
Chris Macdonald, chief executive of Brooks Macdonald, said: “We have continued to see strong growth in our funds under management during the year, which are up 28 per cent on last year and have now reached £6.55bn.
“Progress across the group has also been highlighted by selective acquisitions to improve the offering of our funds division, as well as our expanding international presence.”
