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Brooks inflows bounce from Q4 lows but remain half 2018 high

Brooks inflows bounce from Q4 lows but remain half 2018 high

Brooks Macdonald client inflows near doubled over the three months to end March to £166 million, as risk appetite bounced following a tough time for equities in late 2018.

Cash contributions rose from £83 million in the final three months of last year. In an indication of the continuing damage inflicted on short terms expectations, inflows remained less than half the £343 million reported in the same period of 2018, however.

Combined with the £733 million following wind of a market recovery, total funds rose by almost £1 billion in the period, or 7.9%, to £12.8 billion.

Brooks chief executive Caroline Connellan (pictured) said: ‘Although client sentiment remained subdued in the UK against the backdrop of macro-economic and political uncertainty, in that context we maintained decent organic growth, reflecting the strength of our client and adviser relationships. 

‘The fundamental opportunity for our business remains strong and the actions we have taken towards delivering sustainable and value-enhancing growth position us well for the future.’

The firm’s UK investment management division accounted for £152 million of new flows, while its Channel Island’s based International arm received £14 million.

Assets in Brooks’ model portfolio service – which saw inflows of £38 million – rose by 8.7% to £1.6 billion.

The quarterly figures account for a large majority of the firm’s 9.8% year-on-year rise in FUM from £11.7 billion at the end of March 2018, after it slid by 7.2% in Q4 2018.

 

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