Brooks Macdonald International, which has offices in Guernsey and Jersey, grew its Funds Under Management (FUM) by 3.9% over the prior quarter to stand at in excess of £1.6 billion, according to figures published this week by the Brooks Macdonald Group for the period ending 30 September 2020.
The strong performance was driven by positive net flows combined with good investment performance and reflects the continued reinvigoration of the International business as well as the Channel Islands’ emergence from lockdown. The figures also note that a further c.£1bn of FUM is still to come from the acquisition of Lloyds’ Channel Islands wealth management and funds business, expected to complete later this year.
Overall, the figures show that total Group FUM at the end of September was £13.7 billion. Andrew Shepherd, CEO of Brooks Macdonald International, commented: “The first quarter of our financial year has been extremely positive for the International business and I am particularly pleased with the strong investment performance we have provided our clients over the period.
“We continue to be focused on reinvigorating the business in the Channel Islands, including through our Lloyds acquisition which will add further to these strong figures”.