Investments  

Brooks Macdonald’s FUM breaks £8bn

Brooks Macdonald’s FUM breaks £8bn

Brooks Macdonald Group’s discretionary funds under management broke the £8bn mark at the end of last month, climbing 2.37 per cent from £7.82bn at the end of December.

The figure represents all the discretionary funds managed by the group across asset management, funds and international, with this growth put down to a combination of performance (minus £56m) and net new business (£241m).

The group’s property management business, Braemar Estates, had property assets under administration of £1.13bn, up from £1.12bn at the end of last year.

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In terms of third party assets under administration, these are now in excess of £260m, up from £245m at 31 December 2015.

 

Analysis of discretionary fund flows over the quarter 

 

£m

 

Opening discretionary FUM (Dec 15)

7,822

Net new discretionary business

241

Acquisitions

0

Investment growth

(56)

Total FUM growth

185

Closing FUM (March 2016)

8,007

Organic growth (net of markets)

3.08%

Total growth

2.37%

Chief executive Chris Macdonald explained after good progress in the first half of last year “we have had a satisfactory third quarter”, growing discretionary funds under management to more than £8bn for the first time in the firm’s history.

“Net organic growth remained strong at over 3 per cent for the quarter, although our underweight positions in resources and UK fixed income caused client portfolios to lag the benchmark after a sustained period of outperformance.”

The group recently rebranded, to better define that its six underlying businesses are part of the same group.