Quarterly Announcement of Funds under Management

RNS Number : 0104P

Brooks Macdonald Group PLC

14 October 2021

 

14 October 2021

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

"Growth in FUM to £16.8 billion and positive net flows maintained"

Brooks Macdonald Group plc ("Brooks Macdonald" or "the Group") today publishes an update on its Funds under Management ("FUM") for the first quarter of its financial year, the three months ended 30 September 2021.

Total Group FUM at the end of September reached £16.8 billion (30 June 2021: £16.5 billion), an overall increase of 2.2% in the quarter.  This reflected continued positive net flows, in line with the guidance given at the annual results in September, and strong investment performance.

Highlights for the quarter included:

· The Group overall had a solid start to the financial year with positive net flows, in line with the prior quarter and running at 3.1% on an annualised basis.

· Overall investment performance for the period was robust at 1.4%, again ahead of the MSCI PIMFA Private Investor Balanced Index which was up by 0.2%.

· UKIM discretionary FUM had positive net flows of £0.2 billion, an annualised rate of 5.7%.  Within that, both the Bespoke Portfolio Service ("BPS") and the Managed Portfolio Service ("MPS") had positive net flows, with strong flows in MPS driven in particular by the continued success of the Group's business-to-business offering, BM Investment Solutions.

· Flows in the UKIM Funds business were slightly negative, with the Defensive Capital Fund continuing to be affected by outflows in the absolute return sector.

· The International business saw a sharp reduction in net outflows during the quarter, with a return to positive net flows expected from Q2.

The Group has a healthy pipeline with net flows expected to continue to improve further in line with prior guidance.

Andrew Shepherd, CEO of Brooks Macdonald commented:

"We have made a solid start to the financial year, with positive net flows in the period contributing to record FUM of £16.8bn, and we have continued to provide benchmark-beating investment performance for clients.  There is a clear energy about the business, helped by the passion and excitement our team gets from increasingly meeting face-to-face with advisers and clients again.  We have a strong pipeline and we are confident of further improvement in net flows over the course of the year."

Analysis of fund flows by service over the period

Quarter to 30 September 2021 (£m)
	Opening FUM 1 Jul 21	Organic net new business	Investment performance in the period	Closing FUM 30 Sep 21	Organic net new business	Total mvmt
BPS	9,460	6	138	9,604	0.1%	1.5%
MPS	2,411	162	45	2,618	6.7%	8.6%
UKIM discretionary	11,871	168	183	12,222	1.4%	3.0%
Funds - DCF	478	(11)	11	478	(2.3)%	-%
Funds - Other	1,598	(15)	15	1,598	(0.9)%	-%
Funds total	2,076	(26)	26	2,076	(1.3)%	-%
UKIM total	13,947	142	209	14,298	1.0%	2.5%
International	2,512	(14)	18	2,516	(0.6)%	0.2%
Total	16,459	128	227	16,814	0.8%	2.2%
Total investment performance					1.4%
MSCI PIMFA Private Investor Balanced Index1					0.2%

¹ Capital-only index.

Enquiries to:

Brooks Macdonald Group plc Andrew Shepherd, CEO Ben Thorpe, Chief Financial Officer	www.brooksmacdonald.com 020 7659 3492
Peel Hunt LLP (Nominated Adviser and Broker) Rishi Shah / Andrew Buchanan / John Welch	020 7418 8900
FTI Consulting Ed Berry / Laura Ewart / Katherine Bell	[e-mail] 07703 330199 / 07711 387085 / 07976 870961

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 of £16.8 billion as at 30 September 2021.

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 international investment management, and acts as fund manager to a range of onshore and international funds.

The Group has thirteen offices across the UK and the Channel Islands including London, Cheltenham, East Anglia, Exeter, Hampshire, Leamington Spa, Leeds, Manchester, Tunbridge Wells, Scotland, Wales, Jersey, Guernsey.

LEI: 213800WRDF8LB8MIEX37

www.brooksmacdonald.com / @BrooksMacdonald

 

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