Brooks Macdonald Asset Management

Brooks Macdonald's acquisition of Spearpoint helped drive a 44% rise in FUM in the second half of last year, although the firm continues to count the cost of RDR.

Total assets in UK wealth management reached a record high of £527bn in Q4 last year, despite fears regulation would dampen inflows and put pressure on costs.

Wealth managers have revealed five lesser-known funds they are backing to outperform peers this year, in an environment where some major equity and bond markets looked stretched.

AIM-listed wealth manager Brooks Macdonald said today it has seen assets under management soar to £4.6bn in the last three months, boosted by the recent acquisition of Spearpoint.

Brooks Macdonald Funds has launched two new products, the Global Equity Income fund and the Defensive Capital and Income fund.

FUND MANAGER VIEWS

Brooks Macdonald has acquired discretionary fund manager Spearpoint, manager of the Arch cru funds, in a deal that could reach £32m.

TIME TO SELL DEFENSIVES?

Brooks Macdonald co-founder Jonathan Gumpel is to stand down from the group's board, marking the end of a quarter which saw discretionary funds under management rise 6.5%.

Wealth manager Brooks Macdonald has announced a spate of acquisitions alongside a hike in profits which have jumped 17% to £8.5m year-on-year.