Financial Results
Brooks Macdonald's Funds Under Management Hit ÂŁ8 Billion Mark
The UK investment management group logged a rise in funds under management despite weak investment performance.
London-listed Brooks Macdonald saw its discretionary funds under management rise 2.37 per cent during the first quarter of 2016 to a record ÂŁ8 billion ($12 billion).
The growth came after net new business of ÂŁ241 million offset performance losses of ÂŁ56 million.
The group’s property assets under administration increased from £1.127 billion at the end of last year to £1.132 billion at the end of March, while third party assets under administration of over £260 million were up from £245 million.
“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,” said Chris Macdonald, chief executive of Brooks Macdonald.
The group, which was founded in 1991 and began trading on London's AIM market in 2005, serves high net worth individuals, pension funds, institutions, charities and trusts. It has 12 offices across the UK and the Channel Islands.
