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Brooks Macdonald discretionary assets motor towards £6bn

by Dylan Lobo on Mar 12, 2014 at 07:47

Brooks Macdonald discretionary assets motor towards £6bn

Discretionary assets under management at Brooks Macdonald jumped by 23% in the second half to stand at £5.7 billion at the end of the year.

The year-on-year growth outstrips the 10.8% gain in the Apcims Balanced index.

Asset growth in the six months to the end of December stood at 11%, with new business accounting for £315 million of the rise and investment growth £255 million.  

This helped fuel a 16% rise in pretax profit over the 12 months, from £4.26 million to £4.93 million. When adjusted to factor in acquisition costs, profit increased from £6.07 million to £6.16 million.

Elsewhere funds under management at its asset management arm, Brooks Macdonald Funds, almost doubled to stand at £447 million.

The performance prompted Brooks to raise it interim dividend by 8% to 7p.

The review period saw Brooks form a partnership with North Row Capital, offering its clients exposure to global real estate markets. It also expanded its range of risk-adjusted funds through the acquisition of an option to buy Levitas.

Brooks was particularly pleased with the relationships it has built with advisers, pointing out it now works with more than 620 firms; an above 100% increase over the last two years.

The company also said it has struck two more strategic alliances since the turn of the year.

Brooks chief executive Chris Macdonald (pictured) is pleased with the firm’s ‘solid’ progress.

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