Brooks Macdonald saw double digit growth in the value of funds it manages and a surge in net new business in the past year, according to figures published by the Group last week.
Figures announced by the independent investment manager as part of its Trading Update show that the value of discretionary Funds Under Management (FUM) in the firm’s International division, which includes the firm’s Jersey and Guernsey offices, grew by 10.7% over the year, and by 4.4% over the quarter, to stand at £1.7 billion.
The update also shows that Brooks Macdonald’s Channel Islands business reported annual growth in net new business of 6.4%, up from 1.3% the previous year.
Commenting on the results, Darren Zaman, CEO, International, Brooks Macdonald, said: “It’s been another year of impressive growth for Brooks Macdonald as a whole and the Channel Islands are continuing to play a key part in that success, as we witness strong growth in our discretionary fund management business.
“Particularly pleasing is the fact that this growth has been driven by a material increase in net new business, a result of the effort we are putting into driving forward Brooks Macdonald’s international strategy by building client and adviser relationships in key overseas markets, including the Middle East and Africa.”
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