Quarterly Announcement of Funds under Management

RNS Number : 3347I

Brooks Macdonald Group PLC

14 April 2022

 

14 April 2022

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

"Continuing positive net flows of £0.2 billion for the quarter"

Brooks   Macdonald   Group   plc   ("Brooks Macdonald" or the   "Group")   today   publishes   a n update on Funds under Management ("FUM") for its third quarter ended 31 March 2022 .

Continued positive net flows of £0.2 billion were offset by weaker global markets, where pre-existing macroeconomic difficulties were exacerbated by the economic consequences of the war in Ukraine.  This led to a decrease of 3.9% in total FUM in the quarter, ending the period at £16.7 billion (31 December 2021: £17.3 billion).  This is 1.2% ahead of the Group total at the beginning of the financial year (30 June 2021: £16.5 billion).

· Group net flows continued positive at £0.2 billion for the quarter, corresponding to annualised net flows of 4.1%, in line with guidance given at the interim results

· Positive BPS and MPS flows contributed to net inflows of £0.2 billion or 1.7% for UKIM Discretionary.  MPS generated strong flows with Platform MPS and BMIS continuing to build momentum and delivering combined annualised net flows of 39% in the quarter

· The overall pipeline remains healthy although, as previously guided, current market conditions are expected to affect near-term conversion times

· Underlying business performance remains in line with our recent guidance, subject to further market movements .

Andrew Shepherd, CEO of Brooks Macdonald commented:

"This has been a solid quarter for Brooks Macdonald, despite the volatile market backdrop driven by the war in Ukraine, with continuing positive net flows providing further evidence of the success of our strategy.  As ever, this is primarily down to the commitment and high quality delivery of our people, who give me great confidence in the Group's continued success."

Analysis of fund flows by service over the period

Quarter to 31 March 2022 (£m)
	Opening FUM 1 Jan 22	Organic net new business	Investment performance in the period	Closing FUM 31 Mar 22	Organic net new business	Total mvmt
BPS	9,814	30	(519)	9,325	0.3%	(5.0)%
MPS	2,834	181	(120)	2,895	6.4%	2.2%
UKIM discretionary	12,648	211	(639)	12,220	1.7%	(3.4)%
Funds - DCF	495	(15)	4	484	(3.0)%	(2.2)%
Funds - Other	1,604	(20)	(56)	1,528	(1.2)%	(4.7)%
Funds total	2,099	(35)	(52)	2,012	(1.7)%	(4.1)%
UKIM total	14,747	176	(691)	14,232	1.2%	(3.5)%
International	2,582	3	(159)	2,426	0.1%	(6.0)%
Total	17,329	179	(850)	16,658	1.0%	(3.9)%
Total investment performance					(4.9)%
MSCI PIMFA Private Investor Balanced Index1					(2.7)%

Nine months to 31 March 2022 (£m)
	Opening FUM 1 Jul 21	Organic net new business Q1	Organic net new business Q2	Organic net new business Q3	Inv. perf.  in the period	Closing FUM 31 Mar 22	Total organic net new business	Total mvmt
BPS	9,460	6	51	30	(222)	9,325	0.9%	(1.4)%
MPS	2,411	162	156	181	(15)	2,895	20.7%	20.1%
UKIM discretionary	11,871	168	207	211	(237)	12,220	4.9%	2.9%
Funds - DCF	478	(11)	2	(15)	30	484	(5.0)%	1.3%
Funds - Other	1,598	(15)	(23)	(20)	(12)	1,528	(3.6)%	(4.4)%
Funds total	2,076	(26)	(21)	(35)	18	2,012	(3.9)%	(3.1)%
UKIM total	13,947	142	186	176	(219)	14,232	3.5%	2.0%
International	2,512	(14)	12	3	(87)	2,426	(0.0)%	(3.4)%
Total	16,459	128	198	179	(306)	16,658	3.1%	1.2%
Total investment performance								(1.9)%
MSCI PIMFA Private Investor Balanced Index1								1.2%

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 Laura Ewart / Katherine Bell	[e-mail] 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 £16.7 billion as at 31 March 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, Cheltenham, East Anglia, Exeter, Leamington Spa, Leeds, Manchester, Southampton, Tunbridge Wells, Scotland, Wales, Jersey, Guernsey and Isle of Man.

LEI: 213800WRDF8LB8MIEX37

www.brooksmacdonald.com / @BrooksMacdonald

 

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