Trading update & Announcement of discretionary FUM
23 January 2012
BROOKS MACDONALD GROUP PLC
Pre-close trading update and Quarterly Announcement of
Discretionary
Funds under Management
Brooks Macdonald Group plc (the "Group"), the AIM listed integrated wealth management group, today announces a trading update for its half year ended 31 December 2011 together with an update on its discretionary funds under management.
Trading Update
Trading for the period was in line with the Board's expectations, with good progress being made in all areas of the business.
The acquisition of the Clarke Willmott investment management team was completed on 31 October 2011 and as at that date a total of £114.4 million of discretionary client assets transferred with the team. The team has been successfully integrated into Brooks Macdonald Asset Management and is based at our new office in Taunton.
The Group was pleased to announce on 10 January 2012 that it has signed an initial three year sponsorship agreement with Middlesex County Cricket Club which the Board believes will further increase the visibility of the Brooks Macdonald brand.
Funds under Management
As at 31 December 2011 discretionary funds under management totalled GBP £3.205 billion. This represents an increase of 11% (7% net of the impact of the acquisition of the Clarke Willmott investment management team) compared to the previous quarter ended 30 September 2011 (£2.904bn) and 8% (5% net of the impact of the acquisition of the Clarke Willmott investment management team) compared to the period ended 30 June 2011 (£2.970bn). As a comparison the APCIMS balanced index rose by 6% over the previous quarter and fell by 4% since 30 June 2011.
Included in the above total is Brooks Macdonald Funds; it had funds under management of £114 million at the half year end (30 June 2011: £101 million)
The above numbers exclude Braemar Estates, which had property assets under administration of £780 million as at 31 December 2011 (30 June 2011: £750 million).
Notice of Results
The Group intends issuing its half year results on Tuesday,13 March 2012.
Chris Macdonald, Chief Executive, commented:
"The Group made good progress in the half year across all of its activities in spite of extreme volatility in both sentiment and markets. We continue to work hard on delivering risk adjusted returns to our clients whilst continuing to improve our service, increasing our distribution capabilities, back office functionality and raising the profile of the Group. With this last point in mind we are very excited about our sponsorship of Middlesex cricket."
Enquiries
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Brooks Macdonald Group PLC Chris Macdonald - Chief Executive Simon Jackson - Finance Director |
020 7499 6424
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Collins Stewart Europe Limited (Nominated Adviser & Broker) Bruce Garrow |
020 7523 8350
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MHP Communications Reg Hoare / Barnaby Fry/ Simon Hockridge/ Giles Robinson |
020 3128 8100
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Notes to editors
Brooks Macdonald Group plc is an AIM listed integrated wealth management group. The group consists of three principal companies: Brooks Macdonald Asset Management Limited, a discretionary asset management business; Brooks Macdonald Financial Consulting Limited, a financial advisory and employee benefits consultancy and the Braemar Group which acts as a fund manager, under the name of Brooks Macdonald Funds and manages property assets on behalf of the funds and other clients.
Brooks Macdonald Asset Management provides a bespoke, fee based, investment management service to private high net worth individuals, charities and trusts. It also provides in-house custody, nominee and dealing services and has existing offices in London, Manchester, Hampshire, Taunton, Tunbridge Wells, and Edinburgh.
This information is provided by RNS
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