Brooks Macdonald discretionary AUM breaks through £7bn

Brooks Macdonald’s steady growth in discretionary funds under management continued in the third quarter, rising 7.5% to breach £7bn for the first time.

Brooks Macdonald discretionary AUM breaks through £7bn

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According to the group’s quarterly announcement of funds under management, discretionary FUM rose from £6.95bn to £7.47bn over the three months to 31 March 2015, boosted equally by net new inflows and investment growth.

The firm reported net new discretionary business of £263m and investment growth of £263m during the quarter.

This compares favourably to the previous comparable period, when growth of 4.2% was reported, driven primarily by new business inflows.

On the advisory side, Brooks Macdonald saw a 5.47% increase in advisory funds under management to £482m managed by Brooks Macdonald International.

Assets under administration at the firm’s property business, Braemar Estates, stayed roughly flat, at £1.09bn.

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