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Brooks Macdonald discretionary FUM total GB5.11bn

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Discretionary funds under management at wealth management group Brooks Macdonald totalled GBP5.11bn as at 30 June 2013, up from GBP3.52bn at 30 June 2012, according to the company’s latest trading update.

 
This represents an increase of GBP140m, or 2.8 per cent, over the final quarter. As a comparison the APCIMS Balanced index declined by 2.1 per cent over the quarter.
 
Over the year discretionary funds grew by GBP1.590bn, or 45 per cent, and net of the acquisition of Spearpoint by GBP904m, representing 25.6 per cent over the period. This compares to the APCIMS Balanced index that grew by 9.8 per cent over the period.
 
Included in the above total is Brooks Macdonald Funds, which now incorporates the former Spearpoint funds; it had funds under management of GBP390m at the year end, or GBP329m net of the Spearpoint Funds (30 June 2012: GBP148m).
 
Discretionary funds under management acquired as part of the Spearpoint acquisition totalled GBP686m (GBP601m portfolios and GBP85m in funds). At year end this totalled GBP650m.
 
As at 30 June 2013 advisory funds under management (formerly managed by Spearpoint) totalled GBP348m (31 December 2012: GBP357m).
  
The group’s property management business, Braemar Estates, had property assets under administration of GBP1040m at the year end (30 June 2012: GBP865m), an increase of 20 per cent, or GBP175m.
  
The group launched its new investment management administration service in April 2012, having become an Application Service Provider. Following this launch, third party assets under administration are now in excess of GBP140m.
 
Chris Macdonald (pictured), chief executive of Brooks Macdonald, says: “The last year has been very active, with the successful acquisition and integration of Spearpoint, strong organic growth, the launch of new funds and significant investment across the business.
 
“We anticipate making further progress in maintaining this organic growth of funds under management in the new financial year and the board remains confident for the future prospects of the group.”

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