Financial Results

Discretionary FuM Surge At UK's Brooks Macdonald

Eliane Chavagnon, London, 28 January 2013


Discretionary funds under management at London-listed Brooks Macdonald ended 2012 at £4.62 billion (about $7.31 billion), up from £3.751 billion at 30 September - a rise of 23.2 per cent.

Over the first six months of the financial year, discretionary funds grew by £1.1 billion, or 31 per cent, and by £414 million net of the acquisition of Spearpoint, representing 11.8 per cent growth over that period.  

In November of last year, Brooks Macdonald agreed to buy Spearpoint and Spearpoint Retirement Services, the Jersey- and Guernsey-based discretionary fund management firms. On completion, Spearpoint had £686 million in discretionary assets under management overall, with £357 million in advisory assets.

"Spearpoint is a good synergistic fit with the group’s existing growth strategy, adding important access to an expanding international pensions market," the firm said in its latest trading update.

The firm said that since the acquisition (view here), integration has commenced and the rebranding of the business has been completed with the launch of Brooks Macdonald International, which is divided into asset management, employee benefits and retirement services.

The group’s property management business, Braemar Estates, had £885 million in property assets under administration at end-June 2012, up from £865 million a year earlier.

The group said it intends to issue its half year results on 13 March.


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