Brooks Macdonald saw its total discretionary funds under management increase by 2.4% over the three months to 31 March 2016 to pass £8bn for the first time.
AUM stood at £8.01bn at the end of its third financial quarter, up from £7.8bn for the quarter ended 31 December 2015. However, the wealth management firm said net new discretionary business growth of £241m was held back by investment outflows of £56m to create total growth in funds under management of £185m. The group said its underweight positions in resources and UK fixed income caused portfolios to lag the benchmark after a sustained period of outperformance. Brooks Macdonald moves Defensive Capital fund to absolute return sector Meanwhile, the group's property management bu...
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