Brooks Macdonald AUM increases despite outflows in Q3 results
Gross outflows remained ‘elevated’ due to challenging macroeconomic backdrop
Gross outflows remained ‘elevated’ due to challenging macroeconomic backdrop
Some £4bn of investors’ money left the firm’s UK retail funds and managed portfolio services
Assets under management stand at £17.6bn
Net client flows reached £1.1bn
Comes amid half-year company results
However, International arm of the business is undergoing strategic review
Adjusted operating profit in the investments arm of the business shrunk by 62% in 2023
Key events for UK wealth managers for the week starting 26 February
New CEO Mark FitzPatrick will review ‘all elements of the business’ as he plans for 2030
BM Investment Solutions offering for advisers contributed to 7.3% rise
The firm’s UK retail funds and model portfolio service was hardest hit, having suffered a net outflow of £1.4bn
Group revenue up 8% to £59.1m in the second half