Trading Update

RNS Number : 9604T

Brooks Macdonald Group PLC

24 July 2015

 

24 July 2015

BROOKS MACDONALD GROUP PLC

Year End Trading Update

Quarterly Announcement of Funds under Management

Notice of Results

Brooks Macdonald Group plc (the "Group"), the AIM listed integrated wealth management group, today announces a trading update for its financial year ended 30 June 2015, together with a quarterly update of its funds under management (FUM).

Trading Update

Trading for the year was in line with expectations and good progress has been made despite unhelpful markets during the fourth quarter period.

Over the course of the year we have continued to pursue organic growth, whilst enhancing the Group's team, capabilities and systems. We successfully moved our London head office in May to new West End premises; this will facilitate further expansion and underlines our growth ambitions for the future.

Funds under Management

Discretionary

As at 30 June 2015, discretionary funds under management totalled £7.41 billion (30 June 2014: £6.55 billion).

Over the year discretionary funds grew by £863 million (or 13.1%). As a comparison, the WMA Balanced index increased by 3.74% over the year.

Over the last quarter, discretionary funds under management fell by £56 million. This was a fall of 0.75%. As a comparison, the WMA Balanced index decreased by 3.43% over the quarter.

Included in the above total is Brooks Macdonald Funds, which had funds under management of £663 million at the year end (30 June 2014: £518 million), an increase of 28% over the year.

Analysis of discretionary fund flows over the quarter and year

	Quarter ended 30 June 2015 (£m)	Year ended 30 June 2015 (£m)	Year ended 30 June 2014 (£m)
Opening discretionary FUM	7,469	6,550	5,110
Net new discretionary business	154	645	750
Acquisitions	0	0	360
Investment growth	-210	218	330
Total FUM growth	-56	863	1,440
Closing FUM	7,413	7,413	6,550
Organic growth (net of markets) %	2.0	9.8	14.7
Total growth %	-0.75	13.2	28.2

Property assets under administration

The Group's property management business, Braemar Estates, had property assets under administration of £1.14 billion at the year end (30 June 2014: £1.13 billion), an increase of 0.88%, or £0.01million.

Third party assets under administration

The Group now has third party assets under administration in excess of £255 million (30 June 2014: >£200 million).

Notice of results

The Group intends to issue its results for the year on Thursday 17 September 2015.

Chris Macdonald, Chief Executive of Brooks Macdonald, commented:

"We have had another year of growth in our funds under management, which are up 13% on last year and have now reached £7.41 billion. This has been achieved by a combination of organic growth and good investment performance. We have also continued to invest in enhancing our team, capabilities and systems.

"We look forward to making further progress in the new financial year."

Enquiries

Brooks Macdonald Group plc

Chris Macdonald - Chief Executive                                                                               020 7499 6424

Simon Jackson - Finance Director                                                           www.brooksmacdonald.com

Peel Hunt LLP (Nominated Adviser & Broker)

Guy Wiehahn/Adrian Haxby                                                                                         020 7418 8900

MHP Communications

Reg Hoare / Simon Hockridge / Giles Robinson / Charlie Barker                                     020 3128 8540

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 stockbroking; Brooks Macdonald Retirement Services (International) Limited, a Jersey and Guernsey based retirement planning services provider; and Braemar Estates (Residential) Limited, a specialist property management company.

 

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