Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Brooks Macdonald closes in on £6bn discretionary milestone

Brooks Macdonald closes in on £6bn discretionary milestone

Brooks Macdonald defied flat markets and saw discretionary funds under management rise by 4.2% to £5.92 billion over the first quarter.

This £245 million rise in discretionary AUM comprised £215 million of net new inflows and £30 million from performance. The stock market update does not include the company’s recent acquisition of DPZ Capital, which was announced earlier this week.

Elsewhere within the group, Brooks’ advisory funds under management rose by 10.5% from £374 million to £413 million over the first three months of the year, while the group’s arm Braemer Estates, saws assets under administration climb up by 6.27% from £1.07 billion to £1.14 billion over the same period.

Brooks Macdonald chief executive Chris Macdonald said: ‘Despite flat markets in the first quarter, we have made good progress in growing assets under management in all areas of the business. Overall, in our financial year to date, discretionary funds under management have risen 16%.

‘The acquisition of DPZ Capital at the start of the new quarter has expanded our International business based in Jersey and adds a further c.£360 million of funds under discretionary management. The acquisition of DPZ is a further exciting development for the group.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter