TIDMBRK
RNS Number : 7970V
Brooks Macdonald Group PLC
26 July 2018
26 July 2018
BROOKS MACDONALD GROUP PLC
Year End Trading Update
Quarterly Announcement of Funds under Management
Notice of Results
"Continued strong organic growth,
ending the year with record discretionary FUM of GBP12.4bn"
Brooks Macdonald Group plc (the "Group"), the AIM listed
investment management group, today publishes a trading update for
its financial year ended 30 June 2018, together with a quarterly
update on its Discretionary Funds Under Management for the fourth
quarter.
Trading Update
-- Growth momentum maintained in the final quarter, ending the
financial year with record discretionary FUM of GBP12.4 billion, an
increase of 18.7% over the year and 6.5% over the quarter.
Highlights included:
o Strong net new business of 13.1% in the year and continuing
robust investment performance
o UK Investment Management generated particularly strong flows
across both BPS (+16.5%) and platform MPS (+36.5%)
o BMI reported net new business up from 1.3% in FY17 to 6.4%
this year.
-- Continued investment both to meet current and future
regulatory demands, such as MiFID II, GDPR and SMCR, and to enhance
functional capabilities, focusing on our risk management and
operational framework.
-- Focus maintained on operating margin, reflecting both
material revenue growth and continued cost discipline.
Quarterly Funds Under Management
As at 30 June 2018, discretionary FUM totalled GBP12.4 billion
(30 June 2017: GBP10.5 billion).
Over the year, FUM grew by GBP1,959 million (18.7%). Of this,
13.1% was net new business and 5.7% was investment performance. As
a comparison, the MSCI WMA Private Investor Balanced Index grew by
4.2% over the year.
In the fourth quarter, FUM rose by GBP756 million, an increase
of 6.5% over the quarter (31 March 2018: GBP11.7 billion). In the
same period, the MSCI WMA Private Investor Balanced Index increased
by 4.5%.
The quarterly result was driven by net new business (+GBP214m),
and investment performance (+GBP542m) over the period.
Analysis of discretionary fund flows over the quarter and
year
Quarter to 30 June2018 Year to 30 June 2018
--------------------------- --------------------------
GBPm UK IM BMI TOTAL UK IM BMI TOTAL
------------------ -------- -------- -------- ------ --------
Opening FUM 10,037 1,621 11,659 8,927 1,529 10,456
------------------ -------- ------- -------- -------- ------ --------
Net new business 217 (3) 214 1,267 98 1,365
------------------ -------- ------- -------- -------- ------ --------
Performance 468 74 542 528 66 594
------------------ -------- ------- -------- -------- ------ --------
Closing FUM 10,722 1,693 12,414 10,722 1,693 12,414
------------------ -------- ------- -------- -------- ------ --------
Organic growth 2.1% (0.2%) 1.8% 14.2% 6.4% 13.1%
------------------ -------- ------- -------- -------- ------ --------
Total growth 6.8% 4.4% 6.5% 20.1% 10.7% 18.7%
-------- ------- -------- -------- ------ --------
Caroline Connellan, Chief Executive of Brooks Macdonald Group
commented:
"I am pleased to report that a solid final quarter completes
another year of impressive FUM growth for Brooks Macdonald. While
markets have fluctuated over the second half of our financial year,
we have again generated strong net new business and delivered
robust investment performance. Our organic growth has been largely
driven by the depth of the relationships we have built with our
clients and the advisers who support us. This, combined with
rigorous cost discipline, will enable us to deliver sustainable
growth and improved operating margins in the medium term."
Notice of results
The Group intends to issue its results for the year to 30 June
2018 on Thursday 20 September 2018.
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Caroline Connellan, Chief Executive 020 7499 6424
Peel Hunt LLP (Nominated Adviser and Broker)
Guy Wiehahn / Adrian Haxby 020 7418 8900
MHP Communications
Reg Hoare / Simon Hockridge / Charlie Barker 020 3128 8540
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 GBP12.4bn as at 30 June 2018.
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 investment management and
acts as fund manager to regulated OEICs providing specialist funds
in the property and structured return sectors.
The Group has twelve offices across the UK and the Channel
Islands including London, Hampshire, Leamington Spa, Manchester,
Taunton, Tunbridge Wells, York, Scotland, Wales, Jersey, and
Guernsey.
LEI: 213800WRDF8LB8MIEX37
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END
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