Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Brooks Macdonald's AUM surge 28% as DPZ effect kicks in

Brooks Macdonald's AUM surge 28% as DPZ effect kicks in

Brooks Macdonald's assets under management rose by 28% year-on-year, bolstered by the acquisition of DPZ Capital in April.

Discretionary funds under management reached £6.55 billion at the end of June, with an inflow of £629 million in the last quarter, which included £363 million from the DPZ deal.

The group's asset management arm, Brooks Macdonald Funds saw AUM rise by 32.8% to £518 million, up from £390 million, year-on-year. Advisory funds under management rose from £348 million to £456 million, boosted by £58.9 million transferring over from DPZ.

Brooks Macdonald chief executive Chris Macdonald (pictured) said: 'We have continued to see strong growth in our funds under management during the year, which are up 28% on last year and have now reached £6.55 billion. Progress across the group has also been highlighted by selective acquisitions to improve the offering of our funds division, as well as our expanding international presence.

'Whilst we continue to invest heavily for future growth, particularly in systems development, and adapt to the changing regulatory landscape, we look forward to making further progress in the new financial year.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter