Brooks Macdonald Group PLC Trading Update (1394V)
January 26 2017 - 1:00AM
UK Regulatory
TIDMBRK
RNS Number : 1394V
Brooks Macdonald Group PLC
26 January 2017
26 January 2017
BROOKS MACDONALD GROUP PLC
Half year trading update and Quarterly Announcement of Funds
under Management
Notice of Half Year Results
Brooks Macdonald Group plc (the "Group"), the AIM listed
integrated investment management group, today announces a trading
update for its half year ended 31 December 2016 together with an
update on its funds under management.
Trading Update
Over the last six months discretionary funds under management
('FUM') have risen by 12.4% ending the period at GBP9.33 billion
(30 June 2016: GBP8.301 billion). This is compared to a rise in the
WMA Balanced Index of 7.8%. Increases have been seen across Asset
Management, Funds and International.
Net organic growth over the period was 4.0%, against a backdrop
of uncertainty following the decision by the UK to leave the
European Union and later in the half, further uncertainty
surrounding the implications of a Trump presidency. These outcomes
have undoubtedly dented client sentiment over the last six months
and whilst portfolios have performed well in these challenging
conditions, we expect market volatility to remain.
We have continued to progress as planned with our IT system
development whilst pursuing our core strategy of growing the
business organically. Trading over the first half is in line with
management's expectations.
Quarterly Funds under Management Update
Discretionary
As at 31 December 2016, discretionary funds under management
('FUM') totalled GBP GBP9.33 billion, an increase of 4.6% over the
quarter (30 September 2016: GBP8.922 billion). As a comparison the
WMA balanced index increased by 2.4%.
This represents all our discretionary funds across the Group
(Asset Management, Funds and International) and this growth was a
combination of performance (GBP246m) and net new business (GBP162m)
over the quarter.
Analysis of discretionary fund flows over the quarter and half
year
December 2016 December 2016
(quarter on (half year
quarter) on year end)
GBPm
GBPm
----------------------- -------------- ---------------
Opening discretionary
FUM 8,922 8,301
----------------------- -------------- ---------------
Net new discretionary
business 162 332
----------------------- -------------- ---------------
Acquisitions 0 0
----------------------- -------------- ---------------
Investment growth 246 697
----------------------- -------------- ---------------
Total FUM growth 408 1,029
----------------------- -------------- ---------------
Closing FUM 9,330 9,330
----------------------- -------------- ---------------
Organic growth (net
of markets) 1.80% 4.0%
----------------------- -------------- ---------------
Total growth 4.57% 12.4%
----------------------- -------------- ---------------
Notice of Results
The Group intends to issue its half year results on Wednesday 15
March 2017.
Chris Macdonald, Chief Executive of Brooks Macdonald,
commented:
"The Group has continued to make good progress on a number of
fronts, with discretionary funds under management now exceeding
GBP9bn, organic growth of GBP806m in the calendar year,
continuation of our growth strategies both onshore and offshore and
further progress of our IT system development.
"In April we will welcome Caroline Connellan as our new Chief
Executive and we look forward to the future with confidence."
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Chris Macdonald, Chief Executive 020 7499 6424
Andrew Shepherd, Deputy Chief
Executive
Simon Jackson, Finance Director
Peel Hunt LLP (Nominated Adviser
and Broker)
Guy Wiehahn 020 7418 8900
MHP Communications
Reg Hoare / Simon Hockridge /
Giles Robinson / Charlie Barker 020 3128 8100
Notes to editors
Brooks Macdonald Group plc, through its various subsidiaries,
provides leading investment management services in the UK and
internationally. The Group, which was founded in 1991 and began
trading on AIM in 2005, had discretionary funds under management
(FUM) of GBP9.33bn as at 31 December 2016.
Through its core divisions, Brooks Macdonald offers a range of
investment management services to private high net worth
individuals, pension funds, institutions, charities and trusts. The
Group also provides financial planning as well as offshore fund
management and administration services and acts as fund manager to
regulated OEICs, providing specialist funds in the property and
structured return sectors and managing property assets on behalf of
these funds and other clients.
The Group has twelve offices across the UK and the Channel
Islands including London, Edinburgh, Guernsey, Hale, Hampshire,
Jersey, Leamington Spa, Manchester, Taunton, Tunbridge Wells and
York.
This information is provided by RNS
The company news service from the London Stock Exchange
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