Quarterly Announcement of Discretionary FUM

RNS Number : 0453P

Brooks Macdonald Group PLC

19 October 2012

 



19 October 2012

BROOKS MACDONALD GROUP PLC

AGM Statement

Quarterly Announcement of Discretionary

Funds under Management

Board Changes

Brooks Macdonald Group plc ("Brooks Macdonald" or "the Group"), the AIM listed integrated wealth management group, today announces an update on its discretionary funds under management for the first quarter of its financial year ended 30 September 2012 and two board changes, ahead of its Annual General Meeting being held later today.

Funds under Management

As at 30 September 2012 discretionary funds under management totalled GBP £3.751 billion. This represents an increase of 6.5% compared to 30 June 2012 (£3.520bn). As a comparison the APCIMS balanced index rose by 2.45% over the quarter.

The above numbers include Brooks Macdonald Funds, but exclude Braemar Estates and the Group's new investment management administration service.

Board Changes

Jonathan Gumpel and Nicholas Lawes will step down from the Board with effect from today's AGM.  They both continue to serve on the Group Executive Management Committee and in their senior executive roles in Brooks Macdonald Funds and Brooks Macdonald Financial Consulting respectively.

These changes achieve a balance in the composition of the Board more appropriate to the increased size and complexity of the Group.

Chris Knight, Chairman of Brooks Macdonald will make the following comment at the AGM:

"Last year was tough but successful for Brooks Macdonald as we continued to grow funds under management and profits. The Group is well positioned for RDR, financially stable and has a number of exciting growth opportunities.

"We have had an encouraging first quarter of the new financial year with an increase in funds under management, continuing our track record of growth."

Enquiries

Brooks Macdonald Group PLC

Chris Macdonald - Chief Executive                                                                               020 7499 6424

Simon Jackson - Finance Director                                                            www.brooksmacdonald.com

Canaccord Genuity (Nominated Adviser & Broker)

Bruce Garrow/Sebastian Jones                                                                                   020 7523 8350

MHP Communications

Reg Hoare / Barnaby Fry/ Simon Hockridge/ Giles Robinson                                         020 3128 8100

Notes to editors

Brooks Macdonald Group plc is an AIM listed integrated wealth management group. The group consists of three principal companies: Brooks Macdonald Asset Management Limited, a discretionary asset management business; Brooks Macdonald Financial Consulting Limited, a financial advisory and employee benefits consultancy and the Braemar Group which acts as a fund manager, under the name of Brooks Macdonald Funds and manages property assets on behalf of the funds and other clients.

Brooks Macdonald Asset Management provides a bespoke, fee based, investment management service to private high net worth individuals, charities and trusts. It also provides in-house custody, nominee and dealing services and has existing offices in London, Manchester, Hampshire, Taunton, Tunbridge Wells, Edinburgh and York.

 

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