The new business arm is intended to separate out the independent specialist wealth management group’s private client activities from its fund management activities. Headed by Simon Wombwell, Brooks Macdonald Funds (BFM) will initially comprise seven portfolios, with the three multi-manager funds unitised versions of existing offerings from the group’s Managed Portfolio Service. Jonathan Webster-Smith will run the three risk-rated funds of funds: Balanced, Cautious Growth and Defensive Income.
BFM will also tap into other products within the wider Brooks Macdonald group offering IFAs access to three Channel Islands-listed property portfolios: Student Accommodation Fund; Ground Rents Fund and UK Agricultural Land Fund. The remaining new launch is the Structured Growth portfolio. At launch, funds under management across the seven portfolios will be approximately £100 million.
BMF will be able to draw on expertise and resource from the wider group as needed in areas of administration, marketing and operational support.
Wombwell says: “The new funds business strengthens our presence in the IFA marketplace building on the success of the group’s investment capabilities. We look forward to growing the existing funds and launching further attractive offerings in the future and to growing our funds under management.”
