Assets increased to £4.97bn from £4.62bn as at 31 December 2012, an increase of 0.1% over that of the Apcims balanced index which grew by 7.5%.
However, advisory funds under management fell by 1.4% in the period, from £375m at the end of 2012 to £352m in March.
Third party AUM increased over £20m in the first quarter of the year, and now stands at more than £120m a year on from the launch of the new investment administration service.
Onshore funds, meanwhile, grew by around 10% to £270m with an equal split between new business and performance.
Spearpoint effect
Offshore funds fell 15%, although the firm states this is in line with expectations following the restructure of one of the former Spearpoint funds.
Brooks MacDonald bought Guernsey-based DFM Spearpoint at the end of last year in a deal worth around £32m, in order to add scale, offshore and international capability.
Chris MacDonald, chief executive, said: “Asset management reported £217m of asset growth with performance representing 6% growth as mean across all risk mandates and £128m of new business representing 3.6% growth.
“The integration of the newly branded Brooks Macdonald International continues apace and we anticipate it beginning to contribute to our growth in funds under management in the second half of the calendar year.“
