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Brooks Macdonald discretionary funds up 13% despite ‘unhelpful markets’

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Brooks Macdonald’s discretionary funds under management rose to £7.41bn at the end of June, up from £6.55bn a year earlier.

In a trading update, published today, the company reports its discretionary funds grew by £863m or 13.1 per cent over the year. However, over the past quarter funds fell by 0.75 per cent or £56m.

Included in the total are Brooks Macdonald Funds, the firm’s fund management business, which saw assets increase by 28 per cent over the year and now stand at £663m.

The firm says the results were “in line with expectations” and good progress has been made “despite unhelpful markets” during the fourth quarter of last year.

Brooks Macdonald chief executive Chris Macdonald says the increase in assets has been driven by a combination of organic growth and good investment performance.

He says: “We have also continued to invest in enhancing our team, capabilities and systems. We look forward to making further progress in the new financial year.”

Full year results for the firm will be published on 17 September 2015.

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Comments

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  1. peter mulholland 24th July 2015 at 2:54 pm

    Not very helpful
    What net return did you make on the fund was what was of interest ?

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