Brooks Macdonald recorded £127m outflows in the most recent quarter, as uncertainty around the Autumn Budget took a toll on investor confidence.
In a trading update today (16 October) for the quarter ending 30 September, the asset manager said gross inflows into the business were down 6% over the period, while gross outflows fell by 5.1%. Net outflows were offset by positive investment performance of £228m in the quarter, resulting in a rise in closing funds under management to £17.9bn, up from £17.8bn in the three months to 30 June. Brooks Macdonald appoints CFO as its sells international wing to Canaccord Genuity Wealth The firm's MPS Platform, including its B2B offering for financial advisers BM Investment Solutions, s...
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