Positive performance offsets £100m Brooks Macdonald outflows as FUM ticks up 4.3%

Assets jump to £17.6bn

Cristian Angeloni
clock • 1 min read

Positive market performance offset £100m in outflows at Brooks Macdonald in the final quarter of 2023, leading to a rise in funds under management or advice.

In a fourth-quarter trading update published today (17 January), the wealth manager said positive investment performance of 4.9% over the period managed to offset outflows, resulting in FUM growing by 4.3% to £17.6bn. The outflows mostly affected the firm's bespoke portfolio service (BPS) and funds business, with clients withdrawing funds to "repay debt or to hold higher cash balances", the firm said.  Brooks Macdonald head of investment solutions departs Brooks' platform model portfolio service, including its investment solutions division, grew to £3.9bn over the quarter, up 7.3%,...

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