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Brooks Macdonald's Assets Under Management Surpass £7 Billion
Amisha Mehta
27 July 2015
London-listed Group boosted its discretionary funds under management to £7.41 billion ($11.48 billion) at the end of June, up 13 per cent from a year ago. The last quarter however proved to be disappointing, with a £56 million fall in discretionary funds under management. Still, this 0.75 per cent decline was not as steep as the 3.43 per cent recorded by the WMA Balanced index over the three months, the firm said. Brooks Macdonald blamed “unhelpful markets” and said trading for the year was nevertheless in line with expectations. “We have had another year of growth in our funds under management,” said Brooks Macdonald's chief executive, Chris Macdonald. “This has been achieved by a combination of organic growth and good investment performance. We have also continued to invest in enhancing our team, capabilities and systems.” The group's property management business, Braemar Estates, contributed a 0.88 per cent marginal rise in property assets under administration to £1.14 billion at the end of June. Meanwhile, funds managed by Brooks Macdonald Funds grew 28 per cent over the year to £663 million. In May, the group relocated its London head office to the West End to allow for further expansion.