Brooks Macdonald acquisitions drive FUM higher in 2014

Brooks Macdonald has reported a sharp uptick in funds under management year on year following a raft of acquisitions in 2014.

According to its final results, released today, the wealth manager saw a 28% rise in funds under management at the end of June 2014 compared to the previous year, to £6.6bn. The group said this was due to a combination of acquisitions, organic growth, and performance. In July Brooks said it had agreed a deal to buy risk-adjusted funds house Levitas Investment Management, having already taken over Jersey based wealth manager DPZ Capital in April. Both acquisitions offered a boost to AUM, although the group said 15% of the rise in FUM was due to organic growth. Meanwhile, Brooks Macdon...