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

FCA takes civil action against Neil Woodford and W4.0 for 'operating without authorisation'

FCA takes civil action against Neil Woodford and W4.0 for 'operating without authorisation'

Accused of breaching FSMA

Michael Nelson
clock 08 June 2026 • 2 min read
M&G's PruFund coming to Scottish Widows Platform

M&G's PruFund coming to Scottish Widows Platform

First third-party platform launch

Jen Frost
clock 08 June 2026 • 2 min read
Investors move from cash to US equities as confidence improves

Investors move from cash to US equities as confidence improves

Investment Association figures show

clock 05 June 2026 • 3 min read