Investment firm’s funds under management approach £12bn

Funds under management at AIM-listed investment group Brooks MacDonald are touching the £12bn mark on the back of a strong half year performance and new business wins.

In its trading update for the half year to the end of December, the firm saw funds under management rise 12.3%, ending the period at £11.7bn compared to £10.5bn at June 30 2017.

Brooks MacDonald, which has offices in Manchester and York, said net organic growth over the period was 7.7%, with rates of growth remaining strong in UK investment management, while the international business showed improving growth compared to the year to June.

Caroline Connellan, chief executive of Brooks Macdonald, said: “I am pleased to report that in our second quarter we have maintained the good momentum seen in the first quarter. Our focus on our client and adviser relationships has supported strong net new business which, combined with good portfolio performance, has resulted in substantial FUM growth across all areas of our business.

“Our strong FUM trajectory, combined with a disciplined approach to costs, means we are well placed to mitigate external pressures on revenue yield.

“We continue to make good progress with our planned investment in our operational and risk management framework to build a stronger, sustainable platform for the business. This will enable us to take full advantage of the significant growth opportunities open to us, whilst enhancing efficiency and delivering improved operating margins in the medium term.”