Brooks Macdonald’s total funds under managment surged 28 per cent in the past year thanks in part to deals it has sealed to buy rivals.
The discretionary manager’s assets grew from £5.1bn to £6.5bn to the end of June 2014, driven by acquistions, according to its final results released today.
It expects to pay a final dividend of 19p per share. This will take the total dividends for the year to 26p per share.
Elsewhere, the wealth manager’s pre-tax profits grew 2 per cent to £10.6m in line with expectations.
Chris Macdonald, chief executive officer, said: “After the considerable changes within the industry in recent years, this has been a year where the business has continued to evolve, invest in the future and grow funds under management and administration.
“We will continue to invest in systems development and remain optimistic for new business flows. New business has started the year well and the board remains confident for the future of the group.”
Last month the group said it would acquire Levitas Investment Management Services “imminently” as part of plans to expand its range of risk-adjusted funds and add further exposure to the pensions market.
During the year, the group also entered into a partnership, North Row Capital, 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.
