Brooks Macdonald AUM tops £4bn after Spearpoint deal

AIM-listed wealth manager Brooks Macdonald said today it has seen assets under management soar to £4.6bn in the last three months, boosted by the recent acquisition of Spearpoint.

The group, which bought Arch cru fund manager Spearpoint in November for £32m, said discretionary funds under management have jumped from £3.75bn to £4.62bn in the final quarter of the year, a 23% climb. The takeover of Spearpoint added the vast majority of the new assets, as Brooks previously had discretionary assets under management of £686m. In addition, Spearpoint had advisory assets of £357m. Brooks reiterated today that Spearpoint is a good fit with its existing growth strategy, giving it important access to an expanding international pensions market. The remainder of the gro...