TIDMBRK
RNS Number : 0404W
Brooks Macdonald Group PLC
13 April 2023
13 April 2023
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
"Eighth successive quarter of positive net flows"
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group")
today publishes a n update on Funds under Management ("FUM") for
its third quarter ended 31 March 2023 .
Net flows remained positive at GBP0.4 billion for the quarter
and investment performance continued to be positive despite
volatile markets. These combined to give an increase of 3.5% in
total FUM in the quarter, ending the period at GBP16.8 billion (31
December 2022: GBP16.2 billion). This is 7.2% ahead of the Group
total at the beginning of the financial year (30 June 2022: GBP15.7
billion).
-- Group net flows remained positive at GBP0.4 billion,
equivalent to an annualised level of 9.2% for the quarter. The
corresponding annualised figure for the nine months to 31 March was
6.1%, in line with full year guidance given at the interim
results
-- The strong net flows were driven by Platform MPS and, within
that, the Group's B2B offering BM Investment Solutions ("BMIS")
which broke GBP1bn FUM for the first time
-- The overall pipeline remains healthy although, as previously
guided, market conditions are continuing to affect conversion
times
-- Underlying business performance remains in line with the
Group's recent guidance, subject to further market movements .
Andrew Shepherd, CEO of Brooks Macdonald commented:
"I am delighted to report another strong quarter for Brooks
Macdonald, despite market conditions, with net flows reaching a
level last seen five years ago, demonstrating the ongoing success
of our strategy in action. I am grateful to our clients, our
network of intermediaries, and in particular our people, whose
commitment and focus on our clients make these results
possible."
Analysis of fund flows by service over the period
Quarter to 31 March 2023 (GBPm)
Opening Organic Investment Closing Organic Total
FUM net new performance FUM net new mvmt
1 Jan 23 business in the period 31 Mar business
23
---------- ---------- --------------- -------- ---------- -------
BPS 8,559 (43) 117 8,633 (0.5)% 0.9%
---------- ---------- --------------- -------- ---------- -------
MPS Custody 975 (7) 14 982 (0.7)% 0.7%
MPS Platform 2,632 505 41 3,178 19.2% 20.7%
---------- ---------- --------------- -------- ---------- -------
MPS total 3,607 498 55 4,160 13.8% 15.3%
---------- ---------- --------------- -------- ---------- -------
UKIM discretionary 12,166 455 172 12,793 3.7% 5.2%
---------- ---------- --------------- -------- ---------- -------
Funds - DCF 404 (20) (7) 377 (5.0)% (6.7)%
Funds - Other 1,409 (14) 23 1,418 (1.0)% 0.6%
---------- ---------- --------------- -------- ---------- -------
Funds total 1,813 (34) 16 1,795 (1.9)% (1.0)%
---------- ---------- --------------- -------- ---------- -------
UKIM total 13,979 421 188 14,588 3.0% 4.4%
---------- ---------- --------------- -------- ---------- -------
International 2,247 (48) 7 2,206 (2.1)% (1.8)%
---------- ---------- --------------- -------- ---------- -------
Total 16,226 373 195 16,794 2.3% 3.5%
---------- ---------- --------------- -------- ---------- -------
Total investment performance 1.2%
----------------------------------------------------------------------- ---------------------
MSCI PIMFA Private Investor Balanced Index(1) 2.4%
----------------------------------------------------------------------- ---------------------
Nine months to 31 March 2023 (GBPm)
Opening Organic net new business Total Closing Organic Total
FUM Inv. FUM net new mvmt
Perf. business
-------- ------------------------------ ------- -------- ---------- --------
1 Jul Q1 Q2 Q3 Total YTD 31 Mar
22 23
-------- ------- ------ ----- ------ ------- -------- ---------- --------
BPS 8,581 (6) (82) (43) (131) 183 8,633 (1.5)% 0.6%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
MPS Custody 960 (3) 2 (7) (8) 30 982 (0.8)% 2.3%
MPS Platform 2,053 243 297 505 1,045 80 3,178 50.9% 54.8%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
MPS total 3,013 240 299 498 1,037 110 4,160 34.4% 38.0%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
UKIM discretionary 11,594 234 217 455 906 293 12,793 7.8% 10.3%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
Funds - DCF 439 (14) (17) (20) (51) (11) 377 (11.6)% (14.1)%
Funds - Other 1,418 (20) (24) (14) (58) 58 1,418 (4.1)% -%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
Funds total 1,857 (34) (41) (34) (109) 47 1,795 (5.9)% (3.3)%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
UKIM total 13,451 200 176 421 797 340 14,588 5.9% 8.5%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
International 2,216 (9) (20) (48) (77) 67 2,206 (3.5)% (0.5)%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
Total 15,667 191 156 373 720 407 16,794 4.6% 7.2%
-------- ------- ------ ----- ------ ------- -------- ---------- --------
Total investment performance 2.6%
--------------------------------------------------------------------------------- --------------------
MSCI PIMFA Private Investor Balanced Index(1) 2.2%
--------------------------------------------------------------------------------- --------------------
(1) Capital-only index.
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Andrew Shepherd, CEO 020 7927 4816
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
GBP16.8 billion as at 31 March 2023.
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
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