Quarterly Announcement of Funds under Management

RNS Number : 7110C

Brooks Macdonald Group PLC

13 October 2022

 

13 October 2022

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

"Continued strong positive net flows in Q1"

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 2022.

During the first quarter of the financial year, the Group recorded positive net flows of £0.2 billion, with continued momentum in new business against a backdrop of volatile markets.  The further decline in global markets at the end of September offset the positive net flows leading to a 0.9% decrease in the Group's closing FUM to £15.5 billion (30 June 2022: £15.7 billion).

Highlights for the quarter included:

· The Group delivered strong positive net flows, continuing the trend reported in prior quarters and achieving an annualised rate of 4.9%, in line with the previous financial year.

· UKIM discretionary FUM had positive net flows of £0.2 billion (an annualised rate of 8.1%), driven by MPS Platform, which saw an annualised net flow rate of 47.3%.  MPS Platform includes the Group's business-to-business offering, BM Investment Solutions.

· Overall investment performance for the quarter recorded a reduction of £0.3 billion or 2.1%, ahead of the MSCI PIMFA Private Investor Balanced Index which declined by 3.6% in the period.

While the pipeline for FY23 remains robust, market conditions are resulting in some clients taking longer to commit funds.

Andrew Shepherd, CEO of Brooks Macdonald commented:

"Despite the difficult political and economic conditions in our first quarter, net flows were running at an annualised 4.9% - an excellent result, continuing the trend seen in the previous financial year.

"Given the challenging backdrop, high quality financial advice and robust long-term investment management are needed now more than ever.  Our net flows for this quarter are a credit to everyone at Brooks Macdonald, who engaged actively with our clients and intermediaries to support them in navigating these volatile markets.

"We remain confident in our expectations for new business flows and in the Group's ability to deliver our ambitious growth strategy."

Analysis of fund flows by service over the quarter

Quarter to 30 September 2022 (£m)
	Opening FUM 1 Jul 22	Organic net new business	Investment performance in the period	Closing FUM 30 Sep 22	Organic net new business	Total mvmt
BPS	8,581	(6)	(231)	8,344	(0.1)%	(2.8)%
MPS Custody	960	(3)	(9)	948	(0.3)%	(1.2)%
MPS Platform	2,053	243	(34)	2,262	11.8%	10.2%
MPS total	3,013	240	(43)	3,210	8.0%	6.5%
UKIM discretionary	11,594	234	(274)	11,554	2.0%	(0.3)%
Funds - DCF	439	(14)	(18)	407	(3.2)%	(7.3)%
Funds - Other	1,418	(20)	6	1,404	(1.4)%	(1.0)%
Funds total	1,857	(34)	(12)	1,811	(1.8)%	(2.5)%
UKIM total	13,451	200	(286)	13,365	1.5%	(0.6)%
International	2,216	(9)	(48)	2,159	(0.4)%	(2.6)%
Total	15,667	191	(334)	15,524	1.2%	(0.9)%
Total investment performance					(2.1)%
MSCI PIMFA Private Investor Balanced Index1					(3.6)%

¹ Capital-only index.

Enquiries to:

Brooks Macdonald Group plc Andrew Shepherd, CEO Ben Thorpe, CFO	www.brooksmacdonald.com 020 7659 3492
Peel Hunt LLP (Nominated Adviser and Broker) Paul Shackleton / Andrew Buchanan / John Welch	020 7418 8900
FTI Consulting Edward 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 £15.5 billion as at 30 September 2022.

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 fourteen offices across the UK and Crown Dependencies including London, Birmingham, Cheltenham, East Anglia, Exeter, Leeds, Manchester, Southampton, Tunbridge Wells, Scotland, Wales, Jersey, Guernsey and Isle of Man.

LEI: 213800WRDF8LB8MIEX37

www.brooksmacdonald.com / @BrooksMacdonald

 

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