Net outflows at Brooks Macdonald slowed in the last quarter, as strong growth in the group’s platform MPS division and investment performance helped boost funds under management past £18bn.
According to a quarterly update published today (17 July), the AIM-listed wealth manager reported £200m net outflows in the three months to 30 June, slowing from £300m in the previous quarter. Outflows were more than offset by strong investment performance, which achieved a 1.4% return. This outperformed the benchmark, the MSCI PIMFA Private Investor Balanced index, which rose by 1.1% during the same period. "Outflows have remained elevated but with a more certain political backdrop, lower inflation and the increased likelihood of a reduction in interest rates, we anticipate that the...
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