The firm’s full-year trading update, released 24 July, showed FUM jumped from £6.55bn 12 months previously to £7.41bn, as well as Brooks Macdonald Funds growing 28% from £518m to £663m.
This £863m uptick in discretionary funds under management was offset slightly in the three months to 30 June, during which FUM tracked back by £56m – a drop of 0.75%.
All in all, Brooks Macdonald’s total growth figure slid back 0.75% for the quarter, having gone up 28.2% in 12 months to 30 June 2015.
However, positives included the firm’s property business, Braemar Estates, seeing its assets under administration increasing by £10m to £1.14bn, alongside Brooks Macdonald’s third-party AUA exceeding £255m.
“[The FUM rise] has been achieved by a combination of organic growth and good investment performance,” said Chris Macdonald, Brooks Macdonald CEO.
“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.”
The trading update follows Christopher Knight, Brooks Macdonald’s chairman, revealing in May that he expects the firm’s funds business to break even in H2 2015.
