Funds grow for Brooks Macdonald

INVESTMENT manager Brooks MacDonald saw funds under management grow by 11.1% to £5.68bn in the second half of last year.

The AIM-listed wealth management firm owns Hale-based Braemar Estates and also has a Manchester office.

In a trading update for the six months to December it said growth of £570m was down to a combination of the improving performance of investments and new business wins.

The value of property assets managed by Braemar Estates was static at £1.07bn.

The firm said trading for the half year was in line with the board’s expectations, with revenues and profits ahead of the same period last year.

Chief executive Chris Macdonald said: “The first half of our financial year has seen good progress made across the group, with strong organic growth in funds under management aided in part by positive investment conditions.”