Brooks Macdonald FUM boosted by discretionary offering

2.2% increase in FUM

Brooks Macdonald has reported a 2.2% increase in its funds under management for the first quarter of its financial year, driven by its UKIM discretionary business.

The firm's funds under management hit £16.8bn for the three months to the end of September 2021, according to its latest trading update, with positive net flows of £0.2bn into UKIM discretionary. Within that, the bespoke portfolio service and managed portfolio service were particularly popular, both recording positive net inflows. Inflows into the latter were driven by the group's business to business offering, BM Investment Solutions. Brooks Macdonald bolsters regional offering with two hires Meanwhile, the group's Defensive Capital fund continued to be affected by outflows, as di...