Quarterly Announcement of Funds under Management

RNS Number : 3347I
Brooks Macdonald Group PLC
14 April 2022
 

14 April 2022

 

BROOKS MACDONALD GROUP PLC

 

Quarterly Announcement of Funds under Management

 

"Continuing positive net flows of £0.2 billion for the quarter"

 

Brooks   Macdonald   Group   plc   ("Brooks Macdonald" or the   "Group")   today   publishes   a n update on Funds under Management ("FUM") for its third quarter ended 31 March 2022 .

 

Continued positive net flows of £0.2 billion were offset by weaker global markets, where pre-existing macroeconomic difficulties were exacerbated by the economic consequences of the war in Ukraine.  This led to a decrease of 3.9% in total FUM in the quarter, ending the period at £16.7 billion (31 December 2021: £17.3 billion).  This is 1.2% ahead of the Group total at the beginning of the financial year (30 June 2021: £16.5 billion).

 

· Group net flows continued positive at £0.2 billion for the quarter, corresponding to annualised net flows of 4.1%, in line with guidance given at the interim results

· Positive BPS and MPS flows contributed to net inflows of £0.2 billion or 1.7% for UKIM Discretionary.  MPS generated strong flows with Platform MPS and BMIS continuing to build momentum and delivering combined annualised net flows of 39% in the quarter

· The overall pipeline remains healthy although, as previously guided, current market conditions are expected to affect near-term conversion times

· Underlying business performance remains in line with our recent guidance, subject to further market movements .

 

Andrew Shepherd, CEO of Brooks Macdonald commented:

"This has been a solid quarter for Brooks Macdonald, despite the volatile market backdrop driven by the war in Ukraine, with continuing positive net flows providing further evidence of the success of our strategy.  As ever, this is primarily down to the commitment and high quality delivery of our people, who give me great confidence in the Group's continued success."

 

 

Analysis of fund flows by service over the period

 

Quarter to 31 March 2022 (£m)


Opening FUM

1 Jan 22

Organic net new business

Investment performance in the period

Closing FUM

31 Mar 22

Organic net new business

Total mvmt

BPS

9,814

30

(519)

9,325

0.3%

(5.0)%

MPS

2,834

181

(120)

2,895

6.4%

2.2%

UKIM discretionary

12,648

211

(639)

12,220

1.7%

(3.4)%

Funds - DCF

495

(15)

4

484

(3.0)%

(2.2)%

Funds - Other

1,604

(20)

(56)

1,528

(1.2)%

(4.7)%

Funds total

2,099

(35)

(52)

2,012

(1.7)%

(4.1)%

UKIM total

14,747

176

(691)

14,232

1.2%

(3.5)%

International

2,582

3

(159)

2,426

0.1%

(6.0)%

Total

17,329

179

(850)

16,658

1.0%

(3.9)%


Total investment performance

(4.9)%

MSCI PIMFA Private Investor Balanced Index1

(2.7)%

 

 

Nine months to 31 March 2022 (£m)


Opening FUM

1 Jul 21

Organic net new business Q1

Organic net new business Q2

Organic net new business Q3

Inv. perf.  in the period

Closing FUM

31 Mar 22

Total organic net new business

Total mvmt

BPS

9,460

6

51

30

(222)

9,325

0.9%

(1.4)%

MPS

2,411

162

156

181

(15)

2,895

20.7%

20.1%

UKIM discretionary

11,871

168

207

211

(237)

12,220

4.9%

2.9%

Funds - DCF

478

(11)

2

(15)

30

484

(5.0)%

1.3%

Funds - Other

1,598

(15)

(23)

(20)

(12)

1,528

(3.6)%

(4.4)%

Funds total

2,076

(26)

(21)

(35)

18

2,012

(3.9)%

(3.1)%

UKIM total

13,947

142

186

176

(219)

14,232

3.5%

2.0%

International

2,512

(14)

12

3

(87)

2,426

(0.0)%

(3.4)%

Total

16,459

128

198

179

(306)

16,658

3.1%

1.2%


Total investment performance

(1.9)%

MSCI PIMFA Private Investor Balanced Index1

1.2%

 

 

 

1 Capital-only index.



Enquiries to:

Brooks Macdonald Group plc

Andrew Shepherd, CEO

Ben Thorpe, Chief Financial Officer

 

www.brooksmacdonald.com

020 7659 3492

Peel Hunt LLP (Nominated Adviser and Broker)

Rishi Shah / Andrew Buchanan / John Welch

 

020 7418 8900

FTI Consulting

Laura Ewart / Katherine Bell

 

brooksmacdonald@fticonsulting.com

07711 387085 / 07976 870961

 

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary Funds under Management of £16.7 billion as at 31 March 2022.

 

Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as international investment management, and acts as fund manager to a range of onshore and international funds.

 

The Group has fourteen offices across the UK and Crown Dependencies including London, Cheltenham, East Anglia, Exeter, Leamington Spa, Leeds, Manchester, Southampton, Tunbridge Wells, Scotland, Wales, Jersey, Guernsey and Isle of Man.

 

LEI: 213800WRDF8LB8MIEX37

 

www.brooksmacdonald.com / @BrooksMacdonald

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
QRTGPUBCCUPPGQW
UK 100

Latest directors dealings