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Brooks Macdonald discretionary FUM rise 7.6% in Q1

Brooks Macdonald chief executive Chris Macdonald

Wealth management firm Brooks Macdonald has reported a 7.6 per cent rise in discretionary funds under management in the first quarter of 2013.

The group has seen assets rise to £4.97bn at 31 March, compared to £4.62bn at the start of 2013.

However advisory funds under management, formerly managed by Spearpoint, saw a decrease of 1.4 per cent down to £352m at the end of the first quarter.

Elsewhere, the Brooks Macdonald property management business Braemar Estates saw property assets under administration rise 11.9 per cent to £1.004bn, up from £897m at the end of the previous quarter.

The group also launched its new management administration service in April 2012. Following the launch, third party assets under administration have now reached £120m.

Brooks Macdonald chief executive Chris Macdonald says: “We have reported another strong period of growth in discretionary funds under management with total funds rising 7.6 per cent, driven by a combination of performance gains and organic business growth. We are also pleased that Braemar Estates recently passed the important milestone of £1bn of property assets under administration.”



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