Brooks Macdonald Group PLC Quarterly Announcement of Funds under Management (3090F)
27 July 2016 - 4:00PM
UK Regulatory
TIDMBRK
RNS Number : 3090F
Brooks Macdonald Group PLC
27 July 2016
27 July 2016
BROOKS MACDONALD GROUP PLC
Year End Trading Update
Quarterly Announcement of Funds under Management
Notice of Results
Brooks Macdonald Group plc (the "Group"), the AIM listed
investment management group, today announces a trading update for
its financial year ended 30 June 2016, together with a quarterly
update of its funds under management (FUM).
Trading Update
Over the course of the year we have continued to pursue organic
growth, whilst undertaking continued investment into our
distribution and ICT.
In challenging market conditions the Group has continued to make
considerable progress. Our second half was stronger than the first
and trading for the year as a whole was in line with our
expectations. Discretionary FUM rose to a landmark total of over
GBP8bn, with organic growth (net of markets) of 11.6% over the
year.
As has been widely reported, the recent EU Referendum vote has
increased investment volatility and negatively affected client
sentiment. In addition we had hoped to launch two new funds in the
final quarter of our financial year and both did not occur due to
the uncertainties around the Referendum.
Funds under Management
Discretionary
As at 30 June 2016, discretionary FUM totalled GBP8.301 billion
(30 June 2015: GBP7.41 billion).
Over the year discretionary FUM grew by GBP888 million (or 12%).
As a comparison, the WMA Balanced index increased by 4.59% over the
year.
Over the last quarter, discretionary FUM rose by GBP298 million.
This was a rise of 3.7%. As a comparison, the WMA Balanced index
increased by 3.43% over the quarter.
Analysis of discretionary fund flows over the quarter and
year
Quarter Year ended Year ended
ended 30 June 30 June 2015
30 June 2016 (GBPm) (GBPm)
2016 (GBPm)
----------------------- ------------- ------------- --------------
Opening discretionary
FUM 8,007 7,413 6,550
----------------------- ------------- ------------- --------------
Net new discretionary
business 233 863 645
----------------------- ------------- ------------- --------------
Acquisitions 0 0 0
----------------------- ------------- ------------- --------------
Investment growth 65 25 218
----------------------- ------------- ------------- --------------
Total FUM growth 298 888 863
----------------------- ------------- ------------- --------------
Closing FUM 8,301 8,301 7,413
----------------------- ------------- ------------- --------------
Organic growth (net
of markets) % 2.91 11.64 9.8
----------------------- ------------- ------------- --------------
Total growth % 3.7 11.97 13.2
----------------------- ------------- ------------- --------------
Property assets under administration
The Group's property management business, Braemar Estates, had
property assets under administration of GBP1.10 billion at the year
end (30 June 2015: GBP1.14 billion), a decrease of 0.32%, or GBP37
million.
Third party assets under administration
The Group now has third party assets under administration in
excess of GBP270 million (30 June 2015: >GBP255 million).
Notice of results
The Group intends to issue its results for the year on Wednesday
21 September 2016.
Chris Macdonald, Chief Executive of Brooks Macdonald,
commented:
"Against a backdrop of highly volatile market conditions, added
to by the recent Brexit vote, we have made good progress over the
year. Discretionary funds are up nearly 12%, the majority of which
was organic growth as we continued to attract new client funds
through our strong intermediary relationships."
"In our 25(th) year I am delighted that discretionary funds
under management now exceed GBP8.3bn and we look forward to making
further progress over the new financial year."
Enquiries
Brooks Macdonald Group plc
Chris Macdonald - Chief Executive 020 7499 6424
Simon Jackson - Finance Director www.brooksmacdonald.com
Peel Hunt LLP (Nominated Adviser & Broker)
Guy Wiehahn/Adrian Haxby 020 7418 8900
MHP Communications
Reg Hoare / Simon Hockridge / Giles Robinson / Charlie Barker
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
stockbroking; Brooks Macdonald Retirement Services (International)
Limited, a Jersey and Guernsey based retirement planning services
provider; and Braemar Estates (Residential) Limited, a specialist
property management company.
This information is provided by RNS
The company news service from the London Stock Exchange
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