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Brooks Macdonald sees rise in new business

Brooks Macdonald sees rise in new business

Wednesday 08 May 2019

Brooks Macdonald sees rise in new business

A rise in 'net new business' helped Brooks Macdonald to record a positive performance for the third quarter of its financial year.

The firm closed with an increase of 3.9% in Funds Under Management (FUM), with £1.6bn.

Brooks Macdonald said the increase was driven by a rise in net new business (+£14m), as well as a strong quarterly investment performance that added £45m.

As a whole, the Group recorded total FUM of £12.8bn, an increase of 7.9% on the prior quarter, driven by net new business (+£166m) and investment performance (+£773m).

Commenting on the results, Andrew Shepherd, CEO, International, Brooks Macdonald, said: “We have continued to perform well overall as a Group and I’m pleased that our International business in Jersey and Guernsey also reflects this, with positive net new business and strong investment performance.

"Following the changes we announced in March, we remain focused on the future growth of the business in the Channel Islands and, looking ahead, we continue to see a strong pipeline of activity as a result of our efforts in overseas markets, in particular the Middle East and South Africa.”

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