Brooks Macdonald reports discretionary FUM up 13.1%

Brooks Macdonald reports discretionary FUM up 13.1%

Discretionary funds under management at Brooks Macdonald totalled £7.41bn at the end of June, up from £6.55bn 12 months before, its trading statement revealed.

The wealth management group’s trading statement, published today (24 July) revealed that for the year ending 30 June 2015, discretionary funds at the Aim-listed group grew by £863m - or 13.1 per cent.

But the Aim-listed wealth management group reported that over the last quarter, discretionary funds under management fell by £56m or 0.75 per cent.

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As a comparison, the WMA Balanced index decreased by 3.43 per cent over the quarter.

Included in the total were Brooks Macdonald funds, which had funds under management of £663m at the year end, an increase of 28 per cent over the year.

The group’s property management business, Braemar Estates, had property assets under administration of £1.14bn at the year end, an increase of 0.88 per cent on a year ago.

Third party assets under administration stood at in excess of £255m, up from just short of £200m a year ago.

Chris Macdonald, chief executive of Brooks Macdonald, said that another year of growth in funds under management has been achieved by a combination of organic growth and good investment performance.

“We have also continued to invest in enhancing our team, capabilities and systems... we look forward to making further progress in the new financial year.”