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Brewin Dolphin Hldgs (BRW)

  Print          Annual reports

Wednesday 27 July, 2016

Brewin Dolphin Hldgs

Interim Management Statement

RNS Number : 3161F
Brewin Dolphin Holdings PLC
27 July 2016
 

27 July 2016

 

Brewin Dolphin Holdings PLC

Interim Management Statement

For the quarter ended 30 June 2016

 

Resilient performance in volatile markets

 

Brewin Dolphin Holdings PLC (the 'Company' or the 'Group') today issues the following Interim Management Statement for the third quarter of the financial year ending 30 September 2016.

 

Q3 Highlights1

 

·    

Total funds increased by 2.1% in the quarter to £33.5bn (H1 2016: £32.8bn, FY 2015: £32.0bn).

 

·    

Total core funds2 increased by 3.1% in the quarter to £30.4bn (H1 2016: £29.5bn, FY 2015: £28.5bn).

 

·    

Discretionary funds increased by 3.5% in the quarter to £26.8bn (H1 2016: £25.9bn, FY 2015: £24.8bn).



·    

Total net discretionary funds inflow of £0.3bn; representing 4.1% annualised growth.

 

·    

Total income up 1% in the quarter to £71.3m (Q3 2015: £70.6m).

 

·    

Core income growth of 5.4% in the quarter to £66.6m (Q3 2015: £63.2m); driven by organic discretionary funds growth and improved commission levels.

 

·    

Other income declined to £4.7m (Q3 2015: £7.4m).

 

1 Q3 2015 results restated to exclude discontinued operations.

2 Core funds comprise discretionary and execution only funds.

 

David Nicol, Chief Executive said:

 

"It has been another quarter of steady progress towards our long-term growth goals. Our core discretionary business has continued to deliver organic funds flow and income growth, demonstrating its resilience in the face of uncertain market conditions. In times of market volatility our clients are increasingly looking to Brewin Dolphin to guide them through challenging investment markets. We remain committed to our growth initiatives and have made good progress during the quarter. Our confidence in the future is underpinned by our robust financial position and clear strategic focus."

Funds

 

Total funds by service category



Change

£'bn

30 June
2016

Discretionary

26.8

Execution only

3.6

Core funds

30.4









Advisory

3.1

Total funds

33.5









Indices

FTSE WMA Private Investor Series Balanced Portfolio

FTSE 100









 

Funds flow by service category - detailed movement in the quarter

£'bn

Inflows

Outflows

Internal transfers

Discretionary

0.6

(0.4)

0.1

Execution only

0.1

(0.2)

0.1

Core funds

0.7

(0.6)

0.2





Advisory

-

-

(0.2)





Total funds

0.7

(0.6)

-



* annualised

 

Note: The above funds figures are rounded to one decimal place. Annualised growth rates are based on unrounded figures.

 

Funds flow by service category - detailed movement year to date

£'bn

Inflows

Outflows

Internal transfers

Discretionary

 1.7

(1.2)

 0.1

Execution only

 0.3

(0.5)

 0.4

Core funds

 2.0

(1.7)

 0.5









Advisory

 -

(0.1)

 (0.5)









Total funds

 2.0

(1.8)

-









* annualised









 

Income 

£'m

 Third quarter ended


Nine months to















Discretionary investment management


Financial planning


Execution only


Core income




Advisory investment management


Trail income


Interest


Other income




Total income


 

Fees and Commissions

£'m

 Third quarter ended


Nine months to















Core Fees


Core Commissions




Advisory Fees


Advisory Commissions











Total Fees


Total Commissions




 

For further information:

Brewin Dolphin Holdings PLC

 

David Nicol, Chief Executive

Tel: +44 (0)20 7248 4400

Andrew Westenberger, Finance Director

Tel: +44 (0)20 7248 4400



FTI Consulting

 

Edward Berry

Tel: +44 (0)20 3727 1046

 

Notes to Editors:

About Brewin Dolphin

Brewin Dolphin is one of the UK's leading independent providers of discretionary wealth management. We offer award-winning personalised wealth management services that meet the varied needs of over 100,000 account holders, including individuals, charities, and pension funds.

 

Our focus on discretionary investment management has led to growth in client funds and we now manage £26.8 billion on a discretionary basis. In line with the premium we place on personal relationships, we have built a network of 28 offices across the UK, Channel Islands and the Republic of Ireland, staffed by qualified investment managers and financial planners. We are committed to the most exacting standards of client service, with long-term thinking and absolute focus on our clients' needs at the core.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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