Brooks Macdonald funds arm 'to turn a profit in next financial year'

clock

Wealth manager Brooks Macdonald expects its funds business to break even in the second half of its financial year, and will turn a profit for the first time in 2015-16.

Reporting its results for the six months ended 31 December 2014, the group said it has seen strong growth in its discretionary funds under management across its asset management, international, and funds arms. Over the period, Brooks Macdonald reported a 22.4% increase in discretionary funds under management to £6.95bn. Brooks Macdonald Funds now has AUM of £550m, while property assets under administration, managed by Braemar Estates, stand at £447m, and third party AUA totals £225m. Pre-tax profit was £4.48m, down 9.1% from the same period in 2013. Revenue was 12.3% higher a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Party politics: Why investors should celebrate AIM's 30th birthday, even if the government won't

Party politics: Why investors should celebrate AIM's 30th birthday, even if the government won't

AIM has helped 4,000 businesses raise £135bn since launch

Eustace Santa Barbara
clock 19 June 2025 • 4 min read
AIM at 30: Why advisers should take a fresh look at the UK's junior market

AIM at 30: Why advisers should take a fresh look at the UK's junior market

'We see AIM as a jewel in the crown with long-term appeal for the right clients'

Oliver Brown
clock 17 June 2025 • 4 min read
Taking the rough with the smooth: How to navigate global market volatility

Taking the rough with the smooth: How to navigate global market volatility

'Like investing, smoothing isn't one-size-fits-all'

James Tothill
clock 13 June 2025 • 4 min read