TIDMBRK
RNS Number : 0104P
Brooks Macdonald Group PLC
14 October 2021
14 October 2021
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
"Growth in FUM to GBP16.8 billion and positive net flows
maintained"
Brooks Macdonald Group plc ("Brooks Macdonald" or "the Group")
today publishes an update on its Funds under Management ("FUM") for
the first quarter of its financial year, the three months ended 30
September 2021.
Total Group FUM at the end of September reached GBP16.8 billion
(30 June 2021: GBP16.5 billion), an overall increase of 2.2% in the
quarter. This reflected continued positive net flows, in line with
the guidance given at the annual results in September, and strong
investment performance.
Highlights for the quarter included:
-- The Group overall had a solid start to the financial year
with positive net flows, in line with the prior quarter and running
at 3.1% on an annualised basis.
-- Overall investment performance for the period was robust at
1.4%, again ahead of the MSCI PIMFA Private Investor Balanced Index
which was up by 0.2%.
-- UKIM discretionary FUM had positive net flows of GBP0.2
billion, an annualised rate of 5.7%. Within that, both the Bespoke
Portfolio Service ("BPS") and the Managed Portfolio Service ("MPS")
had positive net flows, with strong flows in MPS driven in
particular by the continued success of the Group's
business-to-business offering, BM Investment Solutions.
-- Flows in the UKIM Funds business were slightly negative, with
the Defensive Capital Fund continuing to be affected by outflows in
the absolute return sector.
-- The International business saw a sharp reduction in net
outflows during the quarter, with a return to positive net flows
expected from Q2.
The Group has a healthy pipeline with net flows expected to
continue to improve further in line with prior guidance.
Andrew Shepherd, CEO of Brooks Macdonald commented:
"We have made a solid start to the financial year, with positive
net flows in the period contributing to record FUM of GBP16.8bn,
and we have continued to provide benchmark-beating investment
performance for clients. There is a clear energy about the
business, helped by the passion and excitement our team gets from
increasingly meeting face-to-face with advisers and clients again.
We have a strong pipeline and we are confident of further
improvement in net flows over the course of the year."
Analysis of fund flows by service over the period
Quarter to 30 September 2021 (GBPm)
Opening Organic Investment Closing Organic Total
FUM net new performance FUM net new mvmt
1 Jul 21 business in the period 30 Sep 21 business
---------- ---------- --------------- ----------- ---------- ------
BPS 9,460 6 138 9,604 0.1% 1.5%
---------- ---------- --------------- ----------- ---------- ------
MPS 2,411 162 45 2,618 6.7% 8.6%
---------- ---------- --------------- ----------- ---------- ------
UKIM discretionary 11,871 168 183 12,222 1.4% 3.0%
---------- ---------- --------------- ----------- ---------- ------
Funds - DCF 478 (11) 11 478 (2.3)% -%
---------- ---------- --------------- ----------- ---------- ------
Funds - Other 1,598 (15) 15 1,598 (0.9)% -%
---------- ---------- --------------- ----------- ---------- ------
Funds total 2,076 (26) 26 2,076 (1.3)% -%
---------- ---------- --------------- ----------- ---------- ------
UKIM total 13,947 142 209 14,298 1.0% 2.5%
---------- ---------- --------------- ----------- ---------- ------
International 2,512 (14) 18 2,516 (0.6)% 0.2%
---------- ---------- --------------- ----------- ---------- ------
Total 16,459 128 227 16,814 0.8% 2.2%
---------- ---------- --------------- ----------- ---------- ------
Total investment performance 1.4%
-------------------------------------------------------------------------- ------------------
MSCI PIMFA Private Investor Balanced Index(1) 0.2%
-------------------------------------------------------------------------- ------------------
(1) Capital-only index.
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Andrew Shepherd, CEO 020 7659 3492
Ben Thorpe, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker)
Rishi Shah / Andrew Buchanan / John Welch 020 7418 8900
FTI Consulting brooksmacdonald@fticonsulting.com
Ed Berry / Laura Ewart / Katherine Bell 07703 330199 / 07711
387085 / 07976 870961
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 of
GBP16.8 billion as at 30 September 2021.
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 international investment management,
and acts as fund manager to a range of onshore and international
funds.
The Group has thirteen offices across the UK and the Channel
Islands including London, Cheltenham, East Anglia, Exeter,
Hampshire, Leamington Spa, Leeds, Manchester, Tunbridge Wells,
Scotland, Wales, Jersey, Guernsey.
LEI: 213800WRDF8LB8MIEX37
www.brooksmacdonald.com / @BrooksMacdonald
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