Spearpoint deal drives 44% rise in Brooks Macdonald FUM

FUM rose from £3.205bn to £4.620bn between H2 2011 and H2 2012, as the purchase of the Channel Islands-based manager of the Arch cru funds added £686m of assets to the business. This included funds totalling £85m and advisory assets of £357m in an acquisition which took place in November last year. This total £1.1bn growth in assets included £414m of organic and market growth, with the Spearpoint assets stripped out. The wealth manager factored in costs of £1.05m for the Spearpoint deal. Meanwhile, property assets under administration, managed by Braemar Estates, grew to £885m an i...