Reports
Brooks Macdonald Reports Rise In Discretionary FuM
Discretionary funds under management at the AIM-listed firm rose faster than a key benchmark for portfolios in the six months to the end of December last year.
UK-listed wealth management house Brooks
Macdonald Group has reported a 12.4 per cent rise in
discretionary funds under management over the second half of
2016, to £9.33 billion ($11.7 billion) at the end of December
2016.
The increase outpaces the rise in the WMA Balanced Index – a
measure of portfolio performance often used by the industry - of
7.8 per cent. Increases have been seen across asset management,
funds and international business segments, Brooks Macdonald Group
said in a statement.
Net organic growth in funds over the period was 4 per cent,
which the firm said was affected by uncertainties among investors
following the Brexit vote in June last year, and amid the
election of US president Donald Trump.
“These outcomes have undoubtedly dented client sentiment over the
last six months and whilst portfolios have performed well in
these challenging conditions, we expect market volatility to
remain,” it said.