Financial Results

Brooks Macdonald’s FUM Down 5.9 Per Cent In Fourth Quarter

Amanda Cheesley, Deputy Editor, London, 15 July 2022

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London-based investment manager Brooks Macdonald Group has published its funds under management for the fourth quarter of its financial year ending 30 June 2022.

Brooks Macdonald saw positive net flows of £0.3 billion ($0.35 billion) in the fourth quarter, but this was offset by declining global markets, resulting in an overall 5.9 per cent reduction in the firm’s closing FUM to £15.7 billion, down from £16.7 billion recorded at the end of March.

During the financial year ending 30 June 2022, the group achieved positive net flows of £0.8 billion, representing an upswing of £1.1 billion from the net flows recorded in FY21, the firm said.

But this was offset by the market downturn, leading to an overall decrease in the group’s closing FUM of 4.8 per cent from the start of the financial year (30 June 2021: £16.5 billion).

While the pipeline for FY23 is strong, conversion times continue to be affected by ongoing market uncertainty, the firm stressed.

Despite the results, Andrew Shepherd, CEO of Brooks Macdonald said: “I am delighted to report our fifth consecutive quarter of positive net flows, bringing our net flows rate up to 6.7 per cent on an annualised basis.”

“This demonstrates sustained momentum and the robustness of our business model. Against the backdrop of declining markets, it is more important than ever to stay connected with our clients and intermediaries,” he added.

The UK-based firm offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. It also provides financial planning, international investment management, and acts as fund manager to a range of onshore and international funds.

It intends to issue its preliminary statement of full year results for the year ended 30 June 2022 on 15 September 2022.

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