The Aim-listed manager ended the year to 30 June with £12.41bn of discretionary funds under management (FUM).
Total funds increased by £1.96bn, thanks to £1.37bn of net inflows and £594m from market-related movements.
In general, markets proved less of a drag on the investment manager’s performance in the final quarter, as volatility fell away from its highs at the start of the year.
Brooks Macdonald saw assets in its UK business contract in Q3, as negative performance of £422m offset £343m of net new business.
Most of the FUM growth was down to investment performance, which boosted assets by £542m.
Quarter on quarter FUM rose 6.5%, or £756m, thanks to net new business totalling £214m.
Brooks Macdonald’s UK business, which accounts for the bulk of FUM, was responsible for £1.27bn of net inflows for 2018. It closed the year with £10.72bn in total assets.
International business picked up from 2017, with net flows up 6.4% to £98m compared with 1.3% organic growth the year before. However, this segment recorded £3m in outflows during the fourth quarter.
“I am pleased to report that a solid final quarter completes another year of impressive FUM growth for Brooks Macdonald,” said chief executive Caroline Connellan (pictured).
“While markets have fluctuated over the second half of our financial year, we have again generated strong net new business and delivered robust investment performance. Our organic growth has been largely driven by the depth of the relationships we have built with our clients and the advisers who support us. This, combined with rigorous cost discipline, will enable us to deliver sustainable growth and improved operating margins in the medium term.”
