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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.'

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