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View the article online at http://citywire.co.uk/wealth-manager/article/a607337

Brooks' discretionary funds see double-digit surge

by Sarah Miloudi on Jul 27, 2012 at 08:41

Brooks' discretionary funds see double-digit surge

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.'

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.

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