Brewin Dolphin sees record gross discretionary inflows in 'volatile and uncertain' 2016

Net discretionary inflows up 4.4% to £1.1bn

Over the year to 30 September, Brewin Dolphin saw record gross new discretionary fund inflows of £2.4bn, up from £2.1bn in 2015, with strong demand for its model portfolios.

Net discretionary inflows were up 4.4% year-on-year, below last year's figure of 4.6% and the firm's target of 5% per annum, but Brewin said this was a good result given the Brexit backdrop.  Direct discretionary inflows stood at £1bn, the same as last year, as outflows from the discretionary service remained elevated at £1.5bn, up from £1.3bn in 2015, as a result of a residual effect from office restructuring undertaken last year.  "The elevated rate of outflows has now reached a peak and we expect it to begin to decline over the coming 12 months towards more normal levels," ...