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Brooks Macdonald FuM up 5.2% in Q3

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Brooks Macdonald’s discretionary funds under management totalled GBP GBP5.37 billion at the end of Esptember 2013, an increase of 5.2% on Q2’s total of GBP5.1 billion.

As a comparison the APCIMS Balanced index grew by 1.93% over the quarter.
 
This represents all discretionary funds across the Group (Asset Management, Funds and International). The growth was through a combination of performance (GBP102m) and net new business (GBP170m) over the quarter.
 
As at 30 September 2013 advisory funds under management (managed by Brooks Macdonald International) totalled GBP354 million, an increase of 1.7% (30 June 2013: GBP348 million).
 
The Group’s property management business Braemar Estates had property assets under administration of GBP1.071 billion, an increase of 2.9% (30 June 2013: GBP1.040 billion).
 
The Group launched its new investment management administration service in April 2012, having successfully become an Application Service Provider ('ASP').  Following this launch third party assets under administration are now in excess of GBP140million (30 June 2013: >GBP120million).
 
Chris Macdonald, Chief Executive of Brooks Macdonald, says: “The Group has made a good start to the year reporting solid growth in funds under management across the Group. Total discretionary funds under management rose 5.2%, driven by a combination of performance gains and organic growth.
 
“We are particularly pleased to report that Brooks Macdonald International achieved strong growth in discretionary funds under management in the quarter, in line with our expectation that it would start to grow this year following its integration. We are confident that its growth will continue over the course of the year driven by its bespoke portfolio service, advisory services and retirement advice business and later this year through the launch of an offshore managed portfolio service.  
     
“We remain confident in our ability to grow funds under management and, remain optimistic about the opportunities for the Group”.
 

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