Brooks Macdonald FUM up 4.2 per cent
Discretionary funds under management (FUM) at Brooks Macdonald totalled GBP5.924 billion as at 31 March, an increase of 4.2 per cent from the 31 December FUM of GBP5.680 billion.
As a comparison the WMA balanced index declined by 0.3 per cent over the quarter.
This figure represents all discretionary funds across the group (asset management, funds and international).
The growth is down to a combination of performance (cGBP30million) and net new business (cGBP215million) over the quarter.
As at 31 March advisory funds under management totalled GBP413 million, an increase of 10.5 per cent (31 December: GBP374 million).
The group’s property management business, Braemar Estates, had property assets under administration of GBP1,137 billion, an increase of 6.27 per cent (31 December: GBP1,070 billion).
Third party assets under administration are now in excess of GBP180million (31 December 2013: GBP160million).
Chris Macdonald, chief executive of Brooks Macdonald, says: “Despite flat markets in the first quarter, we have made good progress in growing assets under management in all areas of the business. Overall, in our financial year to date, discretionary funds under management have risen 16 per cent.
“The acquisition of DPZ Capital at the start of the new quarter has expanded our International business based in Jersey and adds a further c.GBP360m of funds under discretionary management. The acquisition of DPZ is a further exciting development for the group.”
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