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 at £37.5m...

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

Fahad Hassan: Progress on many fronts

Fahad Hassan: Progress on many fronts

'Financial markets are increasingly pricing in a more benign inflation environment ahead'

Fahad Hassan
clock 01 July 2026 • 5 min read
Government launches taskforce to tackle £1.6bn in unclaimed child trust funds

Government launches taskforce to tackle £1.6bn in unclaimed child trust funds

Links up with providers including Coutts, Nationwide and HSBC

Isabel Baxter
clock 29 June 2026 • 3 min read
FCA proposes 'targeted and proportionate' changes to listing rules for closed-ended funds

FCA proposes 'targeted and proportionate' changes to listing rules for closed-ended funds

Consultation runs into August

Michael Nelson
clock 26 June 2026 • 5 min read