Brooks Macdonald discretionary FUM jumps 7.6% in Q1

Brooks Macdonald has reported a 7.6% in discretionary funds under management as rising markets and inflows pushed assets towards the £5bn mark.

Discretionary FUM rose 7.6% to £4.97bn over the three months to 31 March 2013, the group said, a period in which the APCIMS Balanced index rose 7.5%. Brooks' Braemar Estates property business saw assets under administration rise 11.9% to £1bn. Asset management, meanwhile, reported £217m of growth over the period. That represents 6% growth as a mean across all risk mandates, as well as £128m of new business (a rise of 3.6%). While onshore funds grew at around 10% to £270m, offshore funds fell 15% to £67m due to the restructuring of a former Spearpoint fund. Advisory funds under m...