Brooks Macdonald's discretionary funds under management are nearing £7bn following positive performance and growth in net new business.
In a trading update for the six months to 31 December 2014, the firm said discretionary funds under management across the group rose 6.2% over the period to £6.95bn. This represented a 4.1% increase from September 2014 and was attributed to a combination of combination of performance (£140m) and net new business (£136m) over the quarter. Advisory funds under management were £457m, a decrease of 0.6% from the previous quarter, while property assets fell 4.4%. Third party assets under administration were £225m, a £10m increase from September. The firm said trading was "in line with m...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
