Quarterly Announcement of Funds under Management

RNS Number : 8298C

Brooks Macdonald Group PLC

22 April 2013

 



22 April 2013

BROOKS MACDONALD GROUP PLC

Quarterly Announcement of Funds under Management

Brooks Macdonald Group plc (the "Group"), the AIM listed integrated wealth management group, today announces an update on its funds under management for the quarter ended 31 March 2013.

Funds under Management

Discretionary

As at 31 March 2013 discretionary funds under management totalled GBP £4.97 billion, an increase of 7.6% (31 December 2012: £4.62 billion).  As a comparison the APCIMS balanced index grew by 7.5% over the quarter.

Advisory

As at 31 March 2013 advisory funds under management (formerly managed by Spearpoint) totalled GBP £352 million, a decrease of 1.4% (31 December 2012: £357 million).

Property assets under administration

The Group's property management business Braemar Estates had property assets under administration of £1.004 billion, an increase of 11.9% (31 December 2012: £897 million).

Third party assets under administration

The Group launched its new investment management administration service in April 2012, having successfully become an Application Service Provider ('ASP').  Following this launch third party assets under administration are now in excess of £120 million (31 December 2012: >£100million)

Chris Macdonald, Chief Executive of Brooks Macdonald, commented:

"We have reported another strong period of growth in discretionary funds under management with total funds rising 7.6%, driven by a combination of performance gains and organic business growth. We are also pleased that Braemar Estates recently passed the important milestone of £1 billion of property assets under administration. 

Asset Management reported £217m of asset growth, with performance representing 6% growth as a mean across all risk mandates, and £128m of new business representing 3.6% growth. Brooks Macdonald International (formerly Spearpoint) was flat in terms of discretionary funds over the quarter.

Onshore funds grew at around 10% to £270m with an equal split between performance and new business. Offshore funds fell 15% broadly as expected to £67m as a result of the final reconstruction of one of the former Spearpoint funds.

The integration of the newly branded Brooks Macdonald International continues apace, and we anticipate it beginning to contribute to our growth in funds under management in the second half of the calendar year.

We look forward with confidence to further progress across the Group during the current and final quarter of our financial year."  

Enquiries

Brooks Macdonald Group plc

Chris Macdonald - Chief Executive                                                                               020 7499 6424

Simon Jackson - Finance Director                                                          www.brooksmacdonald.com

Canaccord Genuity Limited (Nominated Adviser & Broker)

Bruce Garrow / Joe Weaving                                                                                       020 7523 8350

MHP Communications

Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson                                       020 3128 8100

Notes to editors

Brooks Macdonald Group plc is an AIM listed, integrated, wealth management group. The group consists of six principal companies: Brooks Macdonald Asset Management  Limited, a discretionary asset management business; Brooks Macdonald Funds Limited, a fund management business; Brooks Macdonald Financial Consulting Limited, a financial advisory and employee benefits consultancy; Brooks Macdonald Asset Management (International) Limited, a Jersey and Guernsey based provider of discretionary investment management and stock broking; Brooks Macdonald Retirement Services (International) Limited, a retirement planning services provider and Braemar Estates (Residential) Limited, an estate management company

 

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