Brooks Macdonald Group PLC Quarterly Announcement of Funds under Management (1282C)
15 October 2020 - 5:00PM
UK Regulatory
TIDMBRK
RNS Number : 1282C
Brooks Macdonald Group PLC
15 October 2020
15 October 2020
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
"Continued strong investment performance leading to FUM of
GBP13.7bn"
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group")
today publishes an update on Funds under Management ("FUM") for the
quarter ended 30 September 2020.
Total Group FUM at the end of September was GBP13.7 billion, in
line with 30 June 2020. This reflected strong investment
performance of GBP0.2 billion in the quarter, offset by net
outflows.
Highlights for the quarter included:
-- Investment performance continued to be strong relative to
benchmark, up 1.7% for the period, ahead of the MSCI PIMFA Private
Investor Balanced Index which was down 0.4%.
-- In UKIM, robust investment performance partially offset net
outflows with the Bespoke Portfolio Service ("BPS") finishing
marginally up on the quarter at GBP8.3 billion, although the
Managed Portfolio Service ("MPS") was down 1.9% to GBP1.8 billion,
and Funds reduced 3.4% to GBP2.0 billion. The largest contributor
to the reduction in MPS FUM was the exit of a single GBP90 million
mandate as it moved from discretionary to advisory.
-- International recorded positive net flows which, combined
with good investment performance, resulted in the business ending
the period with FUM in excess of GBP1.6 billion, an increase of
3.9% over the prior quarter. This reflects the continued
reinvigoration of the business and the Channel Islands' emergence
from lockdown, with a further c.GBP1bn of FUM to come from the
acquisition of Lloyds' Channel Islands wealth management and funds
business, expected to complete in Q2.
Caroline Connellan, CEO of Brooks Macdonald commented:
"The first quarter of our financial year has been in line with
expectations. I am pleased with the strong investment performance
we delivered, continuing to protect our clients' wealth, as well as
positive flows in International as we continue to reinvigorate the
business. Our vision for Brooks Macdonald is as the leading
investment manager for intermediaries, and we look forward with
confidence."
Analysis of fund flows by service over the quarter
Quarter to 30 September 2020
GBPm Opening Net flows Investment Closing Organic Total
FUM performance FUM net new mvmt
business
-------- ---------- ------------- -------- ---------- -------
BPS 8,247 (119) 128 8,256 (1.4)% 0.1%
-------- ---------- ------------- -------- ---------- -------
MPS 1,809 (81) 46 1,774 (4.5)% (1.9)%
-------- ---------- ------------- -------- ---------- -------
UKIM
discretionary 10,056 (200) 174 10,030 (2.0)% (0.3)%
-------- ---------- ------------- -------- ---------- -------
Funds 2,051 (100) 31 1,982 (4.9)% (3.4)%
-------- ---------- ------------- -------- ---------- -------
UKIM total 12,107 (300) 205 12,012 (2.5)% (0.8)%
-------- ---------- ------------- -------- ---------- -------
International 1,578 39 23 1,640 2.5% 3.9%
-------- ---------- ------------- -------- ---------- -------
Total 13,685 (261) 228 13,652 (1.9)% (0.2)%
-------- ---------- ------------- -------- ---------- -------
Total investment performance 1.7%
--------------------------------------------------------------- -------------------
MSCI PIMFA Private Investor Balanced Index(1) (0.4)%
--------------------------------------------------------------- -------------------
(1) Capital-only index.
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Caroline Connellan, CEO 020 7659 3492
Ben Thorpe, Group Finance Director
Peel Hunt LLP (Nominated Adviser and Broker)
Adrian Trimmings / Rishi Shah / John Welch 020 7418 8900
MHP Communications
Reg Hoare / Simon Hockridge / Charlie Barker 020 3128 8540
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
GBP13.7 billion as at 30 September 2020.
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 offshore investment management and
acts as fund manager to two regulated OEICs (the IFSL Brooks
Macdonald Fund and the SVS Cornelian Investment Funds) providing a
range of risk-managed multi-asset funds and a specialised absolute
return fund.
The Group has twelve offices across the UK and the Channel
Islands including London, East Anglia, Hampshire, Leamington Spa,
Leeds, Manchester, Taunton, Tunbridge Wells, Scotland, Wales,
Jersey and Guernsey.
LEI: 213800WRDF8LB8MIEX37
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