Brooks Macdonald Group plc has published its latest quarterly Funds under Management (FUM) update and its half-year Trading Update for the period ending 31st December 2021, with figures highlighting continued progress and positive net flows for Brooks Macdonald International.
In particular, the International business, which has offices in Jersey, Guernsey and the Isle of Man, reported an increase in Funds Under Management (FUM) of 2.8% over the previous six months to stand at £2.58 billion. Organic net new business was also up 0.5% in the latest quarter, accompanied by strong investment performance.
Meanwhile, for the Group overall, the results show that total Group FUM grew to £17.3 billion in the period, an overall increase of 3.1% over the quarter and 5.3% over the half-year. This reflected increasingly positive net flows, in line with prior guidance, and positive investment performance. Group net flows were up 55% compared to the prior quarter.
Richard Hughes, CEO of Brooks Macdonald International, commented: “This has been a strong half-year for Brooks Macdonald International, reflective of the momentum we see across the Group. It is pleasing to see a return to positive net flows for us as well as a rise in our FUM to reach a new record level, in a period which was made particularly significant by the launch of our new Isle of Man office as part of our future growth strategy.”
“We have a growing pipeline of new business, our highly talented people are continuing to work hard to improve and develop our service to clients and intermediaries, and we are in a strong position to take advantage of the great opportunities ahead for Brooks Macdonald.”