Stay connected:
Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a607337
Brooks' discretionary funds see double-digit surge
Markets
by Sarah Miloudi on Jul 27, 2012 at 08:41
Brooks Macdonald, the AIM listed integrated wealth manager, has seen a welcome rise in its discretionary funds under management.
Trading for the year was in line with the board's expectations, Brooks said, with revenues and profits 'comfortably ahead' of last year.
As at 30 June, discretionary funds under management totalled £3.5 billion, representing an increase of more than 18% compared to 30 June 2011.
As a further comparison, the APCIMS balanced index fell by 2% over the year and the FTSE100 fell by 7%.
Chris Macdonald, chief executive of Brooks Macdonald (pictured), said: 'The group has had another successful year across all of its activities, whilst continuing to invest in its strategies for growth, despite unfavourable market conditions and weak investor sentiment.'
News sponsored by:
Subscribe to Wealth Manager to get the inside track on your rivals' moves
Keep up to date with how your peers are allocating their clients' assets by subscribing to Wealth Manager magazine.
Today's top headlines
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
Click here to find out more from the Audience Development team.
Read more...
Citywire ratings: 10 fund managers dancing their way into May
by Nisha Long, James Poulter on May 22, 2013 at 12:11
1 comment so far. Why not have your say?
David Cowell
Jul 27, 2012 at 10:26
Doesn't really say how much was organic and how much was bought. The comparisons could therefore be meaningless.
report thisleave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.