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 Hugh Young: the buck stops with me on Asia recovery

Hugh Young: the buck stops with me on Asia recovery

The Veteran Asia Pacific fund manager discusses how he is going to improve the performance of Aberdeen Standard Asia Focus and the other investment trusts run by his team.

Play Tim Steer: fund managers will have to get 'stuck in'

Tim Steer: fund managers will have to get 'stuck in'

The second part of our film with former Artemis and New Star fund manager Tim Steer looks at how his profession has evolved over the past two decades.

2 Comments Play Tim Steer: how to spot a stock disaster coming

Tim Steer: how to spot a stock disaster coming

The former Citywire AAA-rated fund manager has written a book on 22 stock disasters and how forensic examination of annual reports could have spotted them coming.

Read More
Your Business: Cover Star Club

Coverstar club: wealth managers we grilled in 2018 - part 1

Coverstar club: wealth managers we grilled in 2018 - part 1

We featured more than 60 wealth managers from the length and breadth of the UK on our cover last year

Wealth Manager on Twitter