Brooks Macdonald has reported its fund under management for the three months till the end of December was up 3.1% compared to the previous quarter, meaning it has a total of £17.3bn FUM.
In the three months, which represent the second quarter of the group's financial calendar, the group said its outflows were declining in funds at £21m. This followed a difficult first quarter where there was £26m of outflows. Meanwhile, net flows for its discretionary business increased by £200m in the three months to end of December. This contributed to overall positive net flows at the group level with annualised net flows of 4.7% for the quarter, up from 3.1% for Q1. Big-name discretionary managers struggling to gain market share among advisers The group said it had "main...
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