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The CI subsidiary of Brooks Macdonald has reported double digit growth, and saw discretionary funds under management (FUM) rise by 10% over the second half of 2016.
The figures were announced by the independent investment manager this month as part of the Group’s interim report for the six months ended 31 December 2016.
The report shows that Brooks Macdonald’s international division, which includes the firm’s Guernsey and Jersey offices, saw its FUM grow from £1.35bn to £1.49bn over the six-month period.
In addition, the Channel Islands division of the business saw its profits rise over the same period by more than a fifth (21%), from £0.517m to £0.628m.
Commenting on the results, Darren Zaman, CEO, International, Brooks Macdonald, said: “These figures reflect a strong six months for the Group as a whole, including our international division in the Channel Islands.”
“The growth we’ve achieved here in our Channel Islands offices in terms of both funds under management and profit underlines the success we are having in driving Brooks Macdonald’s international growth strategy. We fully intend to continue to expand our specialist investment management capabilities across the Channel Islands in the coming months and years.”
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