Investments  

Markets drive asset growth at Brooks Macdonald

Markets drive asset growth at Brooks Macdonald

Strong stock market performance in the first three months of the year boosted the assets under management of investment management group Brooks Macdonald.

The company now manages £12.8bn of assets, an increase of 7.9 per cent in three months, with net inflows of £166m and gains from market movements was £773m.

The managed portfolio service had assets of £1.6bn at the end of March - an increase of 8.7 per cent over the quarter, most of which was driven by market performance.

The bulk of the net inflows came into the UK business, with £152m of new money taking UK discretionary assets to £9.5bn.

There was a recovery in the performance of the international business, which had positive net inflows but had underperformed in recent years after the loss of several employees who took clients with them.

Brooks Macdonald have given up the management of the Ground Rents Income Fund, as it wishes to concentrate on its core activities, this represents £93m of assets.

Caroline Connellan, chief executive of Brooks Macdonald, said: "Although client sentiment remained subdued in the UK against the backdrop of macro-economic and political uncertainty, in that context we maintained decent organic growth, reflecting the strength of our client and adviser relationships.

"The return to positive net flows in International is encouraging, with the changes we announced in March designed to support the future growth of this business."

david.thorpe@ft.com