Brooks Macdonald has recorded net outflows of £600m against a backdrop of "challenging market conditions", however, its model portfolio services netted £388m for the group.
The firm's 2024 annual report, published today (12 September), noted market volatility and higher interest rates among the challenges faced over the year to 30 June 2024, which pushed clients to withdraw funds to repay debt or to hold higher cash balances. Andrew Shepherd, outgoing CEO of Brooks Macdonald, noted that net outflows came largely from the firm's bespoke and funds products, while their model portfolio service raked in £388m, "reflecting the trend for MPS as a solution of choice for accumulation". Nevertheless, the firm cashed in £1.8bn in investment performance, which led ...
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