Discretionary Management  

Brooks Macdonald assets hit £12.4bn

Brooks Macdonald assets hit £12.4bn

Brooks Macdonald has seen its funds under management increase by nearly 20 per cent to £12.4bn in the year to the end of June.

Most of the 18.7 per cent growth in assets the company saw came from net new business, which accounted for £1.3bn in new funds, while investment performance accounted for another £594m.

Over the three months of the end of June, funds under management rose by £756m, an increase of 6.5 per cent.

Caroline Connellan, chief executive of Brooks Macdonald, said: "I am pleased to report that a solid final quarter completes another year of impressive funds under management growth for Brooks Macdonald.

"While markets have fluctuated over the second half of our financial year, we have again generated strong net new business and delivered robust investment performance. Our organic growth has been largely driven by the depth of the relationships we have built with our clients and the advisers who support us.

"This, combined with rigorous cost discipline, will enable us to deliver sustainable growth and improved operating margins in the medium term."

The company said it would continue to invest to meet current and future regulatory demands, such as Mifid II, GDPR and the senior managers' regime, and to improve its functional capabilities, focusing on its risk management and operational framework.