Quarterly Announcement of Funds under Management

RNS Number : 8045Q

Brooks Macdonald Group PLC

18 October 2013

 



18 October 2013

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

Brooks Macdonald Group plc (the "Group"), the AIM listed integrated wealth management group, today announces an update on its funds under management for the quarter ended 30 September 2013.

Funds under Management

Discretionary

As at 30 September discretionary funds under management totalled GBP £5.37 billion, an increase of 5.2% (30 June 2013: £5.1 billion).  As a comparison the APCIMS Balanced index grew by 1.93% over the quarter.

This represents all our discretionary funds across the Group (Asset Management, Funds and International) and this growth was a combination of performance (£102m) and net new business (£170m) over the quarter.

Advisory

As at 30 September 2013 advisory funds under management (managed by Brooks Macdonald International) totalled GBP £354 million, an increase of 1.7% (30 June 2013: £348 million).

Property assets under administration

The Group's property management business Braemar Estates had property assets under administration of £1.071 billion, an increase of 2.9% (30 June 2013: £1.040 billion).

Third party assets under administration

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 £140million (30 June 2013: >£120million).

Chris Macdonald, Chief Executive of Brooks Macdonald, commented:

"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".

Enquiries

Brooks Macdonald Group plc

Chris Macdonald - Chief Executive                                                                               020 7499 6424

Simon Jackson - Finance Director                                                          

Canaccord Genuity Limited (Nominated Adviser & Broker)

Bruce Garrow/Joe Weaving                                                                                         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 six principal companies: Brooks Macdonald Asset Management  Limited, a discretionary asset management business; Brooks Macdonald Funds Limited, a fund management business; Brooks Macdonald Financial Consulting Limited, a financial advisory and employee benefits consultancy; Brooks Macdonald Asset Management (International) Limited, a Jersey and Guernsey based provider of discretionary investment management and stock broking; Brooks Macdonald Retirement Services (International) Limited, a retirement planning services provider and Braemar Estates (Residential) Limited, an estate management company

 

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