Brooks Macdonald's funds under management (FUM) grew by 7.5% to £16.8bn as it reported positive net flows for the fourth quarter of its financial year.
In its results for the three months to 30 June 2023 released today (13 July), the firm also reported a small increase in flows, with a 0.6% rise of £100m. The company said positive flows were partly offset by the impact of declining markets. The UK investment management discretionary arm delivered net inflows of £200m in Q2, with overall FUM rising by 1.5% over the quarter. Platform MPS and BM Investment Solutions posted the biggest increase with combined annualised net flows of 38%. Chief executive Andrew Shepherd said: "I am pleased to report another quarter of positive net flows...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
