Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Brooks Macdonald moves towards £13 billion

Brooks Macdonald moves towards £13 billion

Brooks Macdonald's assets under management moved towards the £13 billion mark in the third quarter. 

According to a trading update, the wealth firm saw a 3% increase in AuM over the period, lifting assets to £12.8 billion. For comparison, the MSCI WMA Private Investor Balanced Index increased by 1% over the period. 

Brooks attributed the increase to a combination of a £158 million inflow and £211 million in investment performance.

Within this, Brooks said its UK investment management business maintained a 'healthy rate of organic growth' as assets in the division rose 3.6% to £11.1 billion. 

However, its Channel Islands-based international investment management arm, BMI, experienced net outflows following the departure of one of its client-facing teams. Funds under management in this unit fell 1.1% to £1.7 billion. 

The update comes after Brooks recently announced it would be opening an office in East Anglia. It has also launched a responsible investment service. 

'We have maintained positive momentum in our UK business over the first quarter, with good organic growth despite softer client sentiment in light of the current macroeconomic environment,' Brooks chief executive Caroline Connellan (pictured) said in a statement.  

'The ongoing strength of our investment performance has been particularly pleasing, driven by our centralised investment process and the expertise within our teams.' 

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 Citywire 20: Investec's du Toit on managing the 'jerk factor'

Citywire 20: Investec's du Toit on managing the 'jerk factor'

Investec boss Hendrik du Toit believes he has become far more decisive over the last 20 years, especially when it comes to managing 'jerk' factor.

Play Citywire 20: Hugh Young's bleak lesson

Citywire 20: Hugh Young's bleak lesson

In the latest video to mark Citywire's 20th birthday, Aberdeen Standard Investments Asia head reminisces about one of the toughest periods in his career.

Play IWD 2019 video: fund and wealth figures define diversity

IWD 2019 video: fund and wealth figures define diversity

To mark International Women's Day, we have spoken to a variety of top fund houses and wealth managers about their definition of diversity, and how they hope to achieve a more inclusive workplace.

Read More
Your Business: Cover Star Club

Profile: Richard Whitehead - 'In my 20s, I was very difficult to work with'

1 Comment Profile: Richard Whitehead - 'In my 20s, I was very difficult to work with'

Dart Capital boss Richard Whitehead is at a pivot point for the business, and looking back to assess where he is, as much as he is looking forward

Wealth Manager on Twitter