Brooks Macdonald Group PLC Quarterly Announcement of Funds under Management (2763W)

TIDMBRK

RNS Number : 2763W

Brooks Macdonald Group PLC

26 April 2016

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

Brooks Macdonald Group plc (the "Group"), a leading UK investment management group, today announces an update on its funds under management for its third quarter ended 31 March 2016.

Funds under Management

Discretionary

As at 31 March discretionary funds under management totalled GBP GBP8.007 billion, an increase of 2.37% (31 December 2015: GBP7.822 billion). As a comparison the WMA balanced index increased by 0.72% over the quarter.

This represents all the discretionary funds managed by the Group (Asset Management, Funds and International) and this growth was a combination of performance (-GBP56m) and net new business (GBP241m).

Analysis of discretionary fund flows over the quarter

 
 
                            GBPm 
-----------------------  ------- 
 Opening discretionary 
  FUM (Dec 15)            7,822 
-----------------------  ------- 
 Net new discretionary 
  business                 241 
-----------------------  ------- 
 Acquisitions               0 
-----------------------  ------- 
 Investment growth         (56) 
-----------------------  ------- 
 Total FUM growth          185 
-----------------------  ------- 
 Closing FUM (March 
  2016)                   8,007 
-----------------------  ------- 
 Organic growth (net 
  of markets)             3.08% 
-----------------------  ------- 
 Total growth             2.37% 
-----------------------  -------

Property assets under administration

The Group's property management business, Braemar Estates, had property assets under administration of GBP1.132 billion (31 December 2015: GBP1.127 billion).

Third party assets under administration

The Group now has third party assets under administration in excess of GBP260 million (31 December 2015: >GBP245million).

Chris Macdonald, Chief Executive of Brooks Macdonald, commented:

"After good progress in the first half, we have had a satisfactory third quarter, growing discretionary funds under management to over GBP8 billion, for the first time in our history.

"Net organic growth remained strong at over 3% for the quarter although our underweight positions in Resources and UK Fixed Income caused client portfolios to lag the benchmark after a sustained period of outperformance."

Enquiries to:

 
 Brooks Macdonald Group plc           www.brooksmacdonald.com 
  Chris Macdonald, Chief Executive              020 7499 6424 
  Simon Jackson, Finance Director 
  Andrew Shepherd, Deputy Chief 
  Executive 
 
 Peel Hunt LLP (Nominated Adviser 
  and Broker) 
  Guy Wiehahn / Adrian Haxby                    020 7418 8900 
 MHP Communications 
  Reg Hoare / Simon Hockridge / 
  Giles Robinson                                020 3128 8100

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary funds under management (FUM) of GBP7.82bn as at 31 December 2015.

Through its core divisions, Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as offshore fund management and administration services and acts as fund manager to regulated OEICs, providing specialist funds in the property and structured return sectors and managing property assets on behalf of these funds and other clients.

The Group has twelve offices across the UK and the Channel Islands including London, Edinburgh, Guernsey, Hale, Hampshire, Jersey, Leamington Spa, Manchester, Taunton, Tunbridge Wells and York.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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