Brooks Macdonald Group has announced its half-year results for the six months ended 31st December 2021.
The results show that Brooks Macdonald International, which has offices in Jersey, Guernsey and the Isle of Man, returned to positive net Funds Under Management (FUM) flows, reflecting improved client retention and increasing inflows during the period.
A complete half year contribution from the acquisition of Lloyds Banking Group’s Channel Islands funds and wealth management business also helped increase International revenue by 55% compared to the same period last year, and drive up Group revenue by 10.7% to £61.9 million.
Also at a Group level, total FUM reached £17.3bn, up 5.3% over the half year, whist there were positive and increasing net flows over the six months totalling £326 million and a positive investment performance of 3.3% for the half year.
Richard Hughes, CEO, Brooks Macdonald International, commented: “Particularly as we mark ten years since Brooks Macdonald launched in the Channel Islands, this year, I am pleased to report that our International business has returned positive net flows this period and played a part in driving up Group revenues.
“These results show growing client demand for our products and services. This is a challenging time for investors and we are grateful for the trust they continue to place in us. We could not have delivered these results or served our clients and their professional advisers in the way we have, without the commitment and dedication of our people.
“We are announcing these results against the backdrop of the human tragedy unfolding in Ukraine. During these troubled times, our thoughts are with those who are directly and indirectly affected, and we have made a donation towards humanitarian aid efforts in the region on behalf of the Group and BM Foundation.”
The full half year results can be viewed here.
