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Brooks Macdonald returns to positive flows amid macro uncertainty

Brooks Macdonald has reported an 8 per cent increase in funds under management for the first three months of 2019.

The discretionary manager’s funds now stand at £12.8bn.

Net inflows of £166m and a £773m uplift from investment performance contributed to the rise – with the UK arm of the business accounting for most of those gains (£152m and £742m respectively.)

Brooks Macdonald International also reported positive flows, as it was able to recover from a departure of its client-facing team, reported in 2018, which resulted in net outflows.

In the first quarter of 2019, BMI saw £14m of inflows.

Brooks Macdonald funds fall but profits rise after cost-cutting

The group also reported it would end its investment management agreement with real estate investment trust the Ground Rents Income fund, which represented £93m of its non-core funds as of 31 March, to “focus on its core offering.”

Brooks Macdonald chief executive Caroline Connellan says: “I am pleased to report we have continued to perform well overall with positive net new business and strong investment performance.

“Although client sentiment remained subdued in the UK against the backdrop of macro-economic and political uncertainty, in that context we maintained decent organic growth, reflecting the strength of our client and adviser relationships.

“The return to positive net flows in International is encouraging, with the changes we announced in March designed to support the future growth of this business.”

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