Quarterly Announcement of Funds under Management

RNS Number : 0272F

Brooks Macdonald Group PLC

17 April 2014

 



17 April 2014

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 31 March 2014.

Funds under Management

Please note that all numbers below exclude the recent acquisition of DPZ Capital announced on 14 April 2014. All percentages below refer to the change compared to the prior quarter.  

Discretionary

As at 31 March discretionary funds under management totalled GBP £5.924billion, an increase of 4.2% (31 December 2013: £5.680billion).  As a comparison the WMA balanced index declined by 0.3% 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 (c£30million) and net new business (c£215million) over the quarter.

Advisory

As at 31 March advisory funds under management totalled GBP £413 million, an increase of 10.5% (31 December: £374 million).

Property assets under administration

The Group's property management business Braemar Estates had property assets under administration of £1,137 billion, an increase of 6.27% (31 December: £1,070 billion).

Third party assets under administration

Third party assets under administration are now in excess of £180million (31 December 2013: >£160million)

Analyst and Institutional Investor event

The Group is holding an event for analysts and institutional investors on Monday 12 May. Interested parties should contact MHP Communications for further information.

Chris Macdonald, Chief Executive of Brooks Macdonald, commented:

"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%.

"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.£360m of funds under discretionary management. The acquisition of DPZ is a further exciting development for the group."

Enquiries

Brooks Macdonald Group plc

Chris Macdonald - Chief Executive                                                                                            020 7499 6424

Simon Jackson - Finance Director                                                                         www.brooksmacdonald.com

Canaccord Genuity Limited (Nominated Adviser & Broker)

Bruce Garrow/Joe Weaving                                                                                                       020 7523 8350

MHP Communications                                                                                                           020 3128 8100

Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson                                              [e-mail]

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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