Discretionary AuM Rises At UK's Brooks Macdonald

Tom Burroughes

18 October 2013

UK-listed wealth management firm Brooks Macdonald said it had £5.37 billion ($8.69 billion) of discretionary funds under management at 30 September, a 5.2 per cent rise from the end of June this year, outpacing market benchmarks.

The rise in AuM compares with the 1.93 per cent gain in the APCIMS Balanced index of investments over the same three-month period, it said in a statement today.

Advisory-based assets, managed by Brooks Macdonald International, stood at £354 million, an increase of 1.7 per cent.

The group launched its new investment management administration service in April 2012. Third party assets under administration are now over £140million (30 June 2013: over £120million).