Quarterly Announcement of Funds under Management

RNS Number : 3147M

Brooks Macdonald Group PLC

27 April 2018

 

27 April 2018

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

Brooks Macdonald Group plc (the "Group"), the AIM listed investment management group, today publishes its quarterly update on its Discretionary Funds Under Management for the third quarter ended 31 March 2018.

As at 31 March 2018, discretionary FUM totalled £11.66 billion, a decrease of 0.7% over the quarter (31 December 2017: £11.74 billion).  As a comparison the MSCI WMA Private Investor Balanced Index decreased by 4.5%.  At 31 March 2017, discretionary FUM totalled £9.93 billion, so year-on-year FUM grew by 18.2%.

The quarterly result was driven by net new business (+£343m), which was offset by investment performance (-£422m) over the period.

Analysis of discretionary fund flows over the quarter

	Quarter to 31 March 2018
£m	UK IM	BMI	TOTAL
Opening FUM	10,070	1,668	11,738
Net new business	326	17	343
Performance	(359)	(63)	(422)
Closing FUM	10,038	1,621	11,659
Organic growth	3.2%	1.0%	2.9%
Total growth	(0.3)%	(2.8)%	(0.7)%

Caroline Connellan, Chief Executive of Brooks Macdonald commented:

"I am pleased to report that we have maintained good momentum in our business over the quarter, continuing the trend seen in the first half of our financial year, despite more challenging market conditions.  The strength of our client and adviser relationships has continued to deliver robust organic growth with client sentiment remaining broadly positive.

"Weaker markets have resulted in total FUM declining slightly over the quarter.  However, our investment performance has continued to be strong, demonstrating the value of good active management in difficult markets."

Enquiries to:

Brooks Macdonald Group plc Caroline Connellan, Chief Executive Officer	www.brooksmacdonald.com 020 7499 6424
Peel Hunt LLP (Nominated Adviser and Broker) Guy Wiehahn / Adrian Haxby	020 7418 8900
MHP Communications Reg Hoare / Simon Hockridge / Charlie Barker	020 3128 8540

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary funds under management (FUM) of £11.7bn as at 31 March 2018.

Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as offshore investment management and acts as fund manager to regulated OEICs providing specialist funds in the property and structured return sectors.

The Group has twelve offices across the UK and the Channel Islands including London, Hampshire, Leamington Spa, Manchester, Taunton, Tunbridge Wells, York, Scotland, Wales, Jersey, and Guernsey.

LEI: 213800WRDF8LB8MIEX37

 

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