Wealth manager Brooks Macdonald said today assets under management had risen more than 5% in the last quarter, as a combination of market gains and inflows lifted the total.
The group said discretionary funds under management totalled £5.37bn at the end of September, up from £5.1bn at the end of June. The growth of 5.2% outstripped the APCIMS Balanced index which grew by 1.93% over the quarter, and was driven by both outperformance of its mandates as well as net new business. Brooks Macdonald said performance of client assets added £102m to total AUM, while net new business contributed £170m. In particular, the group highlighted the growth of its international business, and revealed plans to launch an offshore managed portfolio service. Chris Macdo...
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