Brooks Macdonald Group PLC Quarterly Announcement of Funds under Management (3147M)

TIDMBRK

RNS Number : 3147M

Brooks Macdonald Group PLC

27 April 2018

27 April 2018

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

Brooks Macdonald Group plc (the "Group"), the AIM listed investment management group, today publishes its quarterly update on its Discretionary Funds Under Management for the third quarter ended 31 March 2018.

As at 31 March 2018, discretionary FUM totalled GBP11.66 billion, a decrease of 0.7% over the quarter (31 December 2017: GBP11.74 billion). As a comparison the MSCI WMA Private Investor Balanced Index decreased by 4.5%. At 31 March 2017, discretionary FUM totalled GBP9.93 billion, so year-on-year FUM grew by 18.2%.

The quarterly result was driven by net new business (+GBP343m), which was offset by investment performance (-GBP422m) over the period.

Analysis of discretionary fund flows over the quarter

 
                        Quarter to 31 March 
                                2018 
                    --------------------------- 
 
   GBPm                UK IM     BMI      TOTAL 
------------------  --------           -------- 
 Opening FUM          10,070    1,668    11,738 
------------------  --------  -------  -------- 
 Net new business        326       17       343 
------------------  --------  -------  -------- 
 Performance           (359)     (63)     (422) 
------------------  --------  -------  -------- 
 Closing FUM          10,038    1,621    11,659 
------------------  --------  -------  -------- 
 Organic growth         3.2%     1.0%      2.9% 
------------------  --------  -------  -------- 
 Total growth         (0.3)%   (2.8)%    (0.7)% 
                    --------  -------  -------- 
 

Caroline Connellan, Chief Executive of Brooks Macdonald commented:

"I am pleased to report that we have maintained good momentum in our business over the quarter, continuing the trend seen in the first half of our financial year, despite more challenging market conditions. The strength of our client and adviser relationships has continued to deliver robust organic growth with client sentiment remaining broadly positive.

"Weaker markets have resulted in total FUM declining slightly over the quarter. However, our investment performance has continued to be strong, demonstrating the value of good active management in difficult markets."

Enquiries to:

 
 Brooks Macdonald Group plc                       www.brooksmacdonald.com 
  Caroline Connellan, Chief Executive Officer               020 7499 6424 
 Peel Hunt LLP (Nominated Adviser and Broker) 
  Guy Wiehahn / Adrian Haxby                                020 7418 8900 
 MHP Communications 
  Reg Hoare / Simon Hockridge / Charlie Barker              020 3128 8540 
 

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 GBP11.7bn as at 31 March 2018.

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 investment management and acts as fund manager to regulated OEICs providing specialist funds in the property and structured return sectors.

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

LEI: 213800WRDF8LB8MIEX37

This information is provided by RNS

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April 27, 2018 02:00 ET (06:00 GMT)