Brooks Macdonald makes 'reasonable' start in Q1 as AUM hits £6.7bn

Brooks Macdonald has grown discretionary assets under management to £6.7bn, according to its first quarter results, with new business topping £100m despite market headwinds.

In its results to 30 September, the group said assets had increased from £6.5bn at the end of June to £6.7bn, a 2% increase. This was mainly down to £109m of net new business, with just £25m a result of market movements. Advisory funds under management totalled £460m, up from £456m in June while third party assets were £215m.  Chris Macdonald (pictured), chief executive of Brooks Macdonald, described the figures as a "reasonable start" to the new financial year. He said: "Despite more challenging markets during the quarter, which is historically our slowest trading period, the g...