London-headquartered Brooks Macdonald reported a £516 million growth of discretionary funds under management over the first three months of 2015.

AIM-listed Brooks Macdonald drove its discretionary funds under management up by 7 per cent to £7.47 billion ($11.49 billion) during the first quarter of 2015, compared to £6.95 billion the previous quarter.

The increase surpassed that of the WMA Balanced index, which grew by 4.1 per cent over the three months.

The wealth manager highlighted the quarter's combination of organic growth and investment performance.

Investment growth contributed £263 million, while net new business totalled £253 million.

Meanwhile, advisory funds under management climbed 5.5 per cent to £482 million.

“As previously announced, we will be moving from our current London West End offices to new premises nearby during the current quarter,” said Brooks Macdonald's chief executive, Chris Macdonald, in the quarterly update.

“This will facilitate further expansion of the group and underlines our growth ambitions for the remainder of the year and beyond.”