TIDMBRK
RNS Number : 4569M
Brooks Macdonald Group PLC
12 January 2023
12 January 2023
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management and Half Year
Trading Update
Notice of Half Year results
"FUM up 4.5% to GBP16.2 billion with net flows at an annualised
4.0% for the quarter"
Brooks Macdonald Group plc ("Brooks Macdonald" or "the Group")
today publishes an u pdate on its Funds under Management ("FUM")
for its second quarter ended 31 December 2022, together with a
Trading Update for the half year .
FUM update
For the quarter ended 31 December 2022, the Group's FUM was up
4.5% with net inflows of GBP0.2 billion (an annualised rate of
4.0%), reflecting continued momentum in new business, and positive
investment performance of GBP0.5 billion, leading to a closing FUM
of GBP16.2 billion (30 September 2022: GBP15.5 billion).
Highlights for the quarter included:
-- Within UKIM, Platform MPS (including BM Investment Solutions)
continued to gain market share, recording strong net flows in the
period (annualised rate of 52.5%), and has a robust pipeline;
-- UK BPS experienced net outflows in the quarter due primarily
to continued economic uncertainty making clients more cautious and
therefore taking longer to commit funds;
-- The Group completed two acquisitions in the quarter -
Integrity Wealth Solutions and Adroit Financial Planning -
demonstrating its ability to identify and integrate high quality
businesses that build capability and broaden the offering;
-- Investment performance for the quarter was 3.5%, in line with
the benchmark MSCI PIMFA Private Investor Balanced Index.
Trading update
The Group traded solidly in the first half, despite the
difficult prevailing macroeconomic environment and market
conditions, and underlying profit and underlying profit margin
(year to date and full year forecast) are running in line with
current market expectations.
Andrew Shepherd, CEO of Brooks Macdonald commented:
"I am pleased to report that we have delivered c.GBP350m of
positive net flows so far this financial year, demonstrating the
continuing demand from our clients and intermediaries for high
quality investment management, despite the challenging
macroeconomic environment and difficult market conditions. It has
been a solid half year for the Group, with positive organic growth
and two acquisitions completed in the period, underlining our
continued progress towards our strategic ambitions. We remain in a
strong position to take advantage of the great opportunities ahead
for Brooks Macdonald."
Analysis of fund flows by service over the period
Quarter to 31 December 2022 (GBPm)
Opening Organic Investment Closing Organic Total
FUM net new performance FUM net new mvmt
1 Oct 22 business in the period 31 Dec business
22
---------- ---------- --------------- -------- ---------- -------
BPS 8,344 (82) 297 8,559 (1.0)% 2.6%
---------- ---------- --------------- -------- ---------- -------
MPS Custody 948 2 25 975 0.2% 2.8%
MPS Platform 2,262 297 73 2,632 13.1% 16.4%
---------- ---------- --------------- -------- ---------- -------
MPS total 3,210 299 98 3,607 9.3% 12.4%
---------- ---------- --------------- -------- ---------- -------
UKIM discretionary 11,554 217 395 12,166 1.9% 5.3%
---------- ---------- --------------- -------- ---------- -------
Funds - DCF 407 (17) 14 404 (4.2)% (0.7)%
Funds - Other 1,404 (24) 29 1,409 (1.7)% 0.4%
---------- ---------- --------------- -------- ---------- -------
Funds total 1,811 (41) 43 1,813 (2.3)% 0.1%
---------- ---------- --------------- -------- ---------- -------
UKIM total 13,365 176 438 13,979 1.3% 4.6%
---------- ---------- --------------- -------- ---------- -------
International 2,159 (20) 108 2,247 (0.9)% 4.1%
---------- ---------- --------------- -------- ---------- -------
Total 15,524 156 546 16,226 1.0% 4.5%
---------- ---------- --------------- -------- ---------- -------
Total investment performance 3.5%
----------------------------------------------------------------------- -------------------
MSCI PIMFA Private Investor Balanced Index(1) 3.5%
----------------------------------------------------------------------- -------------------
Six months to 31 December 2022 (GBPm)
Opening Organic net new Total Closing Organic Total
FUM business Inv. FUM net new mvmt
Perf. business
-------- -------------------- ------- -------- ---------- -------
1 Jul Q1 Q2 Total 31 Dec
22 22
-------- ------ ----- ----- ------- -------- ---------- -------
BPS 8,581 (6) (82) (88) 66 8,559 (1.0)% (0.3)%
-------- ------ ----- ----- ------- -------- ---------- -------
MPS Custody 960 (3) 2 (1) 16 975 (0.1)% 1.6%
MPS Platform 2,053 243 297 540 39 2,632 26.3% 28.2%
-------- ------ ----- ----- ------- -------- ---------- -------
MPS total 3,013 240 299 539 55 3,607 17.9% 19.7%
-------- ------ ----- ----- ------- -------- ---------- -------
UKIM discretionary 11,594 234 217 451 121 12,166 3.9% 4.9%
-------- ------ ----- ----- ------- -------- ---------- -------
Funds - DCF 439 (14) (17) (31) (4) 404 (7.1)% (8.0)%
Funds - Other 1,418 (20) (24) (44) 35 1,409 (3.1)% (0.6)%
-------- ------ ----- ----- ------- -------- ---------- -------
Funds total 1,857 (34) (41) (75) 31 1,813 (4.0)% (2.4)%
-------- ------ ----- ----- ------- -------- ---------- -------
UKIM total 13,451 200 176 376 152 13,979 2.8% 3.9%
-------- ------ ----- ----- ------- -------- ---------- -------
International 2,216 (9) (20) (29) 60 2,247 (1.3)% 1.4%
-------- ------ ----- ----- ------- -------- ---------- -------
Total 15,667 191 156 347 212 16,226 2.2% 3.6%
-------- ------ ----- ----- ------- -------- ---------- -------
Total investment performance 1.4%
----------------------------------------------------------------------- -------------------
MSCI PIMFA Private Investor Balanced Index(1) (0.3)%
----------------------------------------------------------------------- -------------------
(1) Capital-only index.
Notice of Half Year results
The Group intends to issue its preliminary statement of half
year results for the period ended 31 December 2022 on Thursday 2
March 2023.
An analyst meeting will be held at 9.30am on Thursday, 2 March
2023. Please contact Katherine Bell at FTI Consulting on 07976
870961 or e-mail brooksmacdonald@fticonsulting.com for further
details.
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Andrew Shepherd, CEO 020 7659 3492
Ben Thorpe, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and
Broker)
Paul Shackleton / Andrew Buchanan / John
Welch 020 7418 8900
FTI Consulting brooksmacdonald@fticonsulting.com
Edward Berry / Laura Ewart / Katherine 07703 330199 / 07711
Bell 387085 / 07976 870961
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 of
GBP16.2 billion as at 31 December 2022.
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 international investment management,
and acts as fund manager to a range of onshore and international
funds.
The Group has fifteen offices across the UK and Crown
Dependencies including London, Birmingham, Cheltenham, East Anglia,
Exeter, Leeds, Manchester, Nuneaton, Southampton, Tunbridge Wells,
Scotland, Wales, Jersey, Guernsey and Isle of Man.
LEI: 213800WRDF8LB8MIEX37
www.brooksmacdonald.com / @BrooksMacdonald
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTGPUPAGUPWGRG
(END) Dow Jones Newswires
January 12, 2023 02:00 ET (07:00 GMT)
Brooks Macdonald (LSE:BRK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brooks Macdonald (LSE:BRK)
Historical Stock Chart
From Jul 2023 to Jul 2024
