Brewin FUM drops as weak markets offset inflows

Brewin Dolphin saw its funds under management fall in the last quarter after a difficult period for risk assets.

Over the three months to 30 June, discretionary funds under management (FUM) fell by £0.6bn to £25.6bn. The business blamed the reduction on negative market conditions offsetting net inflows, the FTSE 100 having fallen by 3.7% over the period. Net inflows for the quarter were £200m, while market movements reduced the value of the business’ discretionary FUM by £800m during the quarter. Total quarterly income was £73m, compared with £73.1m for Q3 2014, despite discretionary FUM during the relevant periods standing at £25.6bn and £23.7bn respectively. During the quarter, fee i...