Brooks Macdonald reports 13% FUM growth despite 'unhelpful Q4'

In its results for the year to 30 June 2015, the firm said discretionary assets under management grew from £6.55bn in June 2014 to £7.41bn this year. The firm said this was in line with expectations and good progress has been made, despite unhelpful markets in the fourth quarter. Total discretionary fund growth was £863m or 13% over the year, a combination of £645m from net new business and £218m from investment growth. However, the company saw a loss of £210m in investment growth in the fourth quarter of the year, which caused assets to drop slightly after peaking at £7.47bn at th...