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Brooks Macdonald reaches GBP8bn through net new business

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In its third quarter update, investment management group Brooks Macdonald has announced that at end March 2016 discretionary funds under management totalled GBP 8.007 billion, an increase of 2.37 per cent over the quarter. (31 December 2015: GBP7.822 billion).  As a comparison the WMA balanced index increased by 0.72 per cent over the quarter.

 This represents all the discretionary funds managed by the Group (Asset Management, Funds and International) and this growth was dominated by net new business, with performance at -GBP56 million while net new business stood at GBP241 million.
 
The Group’s property management business, Braemar Estates, had property assets under administration of GBP1.132 billion (31 December 2015: GBP1.127 billion).
 
The Group now has third party assets under administration in excess of GBP260 million (31 December 2015: >GBP245million).
 
Chris Macdonald, Chief Executive of Brooks Macdonald, says: “After good progress in the first half, we have had a satisfactory third quarter, growing discretionary funds under management to over GBP8 billion, for the first time in our history.
 
“Net organic growth remained strong at over 3 per cent for the quarter although our underweight positions in Resources and UK Fixed Income caused client portfolios to lag the benchmark after a sustained period of outperformance.”

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