TIDMBRK
RNS Number : 4108S
Brooks Macdonald Group PLC
14 July 2022
14 July 2022
BROOKS MACDONALD GROUP PLC
Trading Update and Quarterly Announcement of Funds under
Management
Notice of Full Year results
"Strong positive net flows in Q4, up to an annualised rate of
6.7%"
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group")
today publishes a trading update and its quarterly announcement of
Funds under Management ("FUM") for the fourth quarter of its
financial year ended 30 June 2022.
Trading Update
The Group had a positive fourth quarter, benefiting from its
strong client and intermediary relationships and resilient business
model. The Group anticipates full year results in line with market
expectations, adjusted for recent market movements .
While the pipeline for FY23 is strong, conversion times continue
to be affected by ongoing market uncertainty.
Quarterly Announcement of Funds under Management
The Group recorded positive net flows in the quarter of GBP0.3bn
or 1.7%, an annualised rate of 6.7%. This was offset by declining
global markets, resulting in an overall 5.9% reduction in the
Group's closing FUM to GBP15.7bn (31 March 2022: GBP16.7bn).
Highlights in the quarter included:
-- UKIM Discretionary delivered net inflows in the quarter of
GBP0.3 billion, corresponding to annualised net flows of 10.8%.
Platform MPS and BMIS continued to build momentum, with combined
annualised net flows of 45.6% for the quarter.
-- Investment performance for the quarter delivered an FUM
reduction of GBP1.3bn or 7.6%, in line with the MSCI PIMFA Private
Investor Balanced Index.
During the financial year ended 30 June 2022, the Group achieved
positive net flows of GBP0.8bn or 4.8%, representing an upswing of
GBP1.1bn from the net flows recorded in FY21. This was offset by
the market downturn, leading to an overall decrease in the Group's
closing FUM of 4.8% from the start of the financial year (30 June
2021: GBP16.5bn).
Andrew Shepherd, CEO of Brooks Macdonald commented:
"I am delighted to report our fifth consecutive quarter of
positive net flows, bringing our net flows rate up to 6.7% on an
annualised basis. This demonstrates sustained momentum and the
robustness of our business model. Against the backdrop of declining
markets, it is more important than ever to stay connected with our
clients and intermediaries, and I am proud of how our people have
made a difference for them and helped deliver such strong
results."
Analysis of fund flows by service over the period
Quarter to 30 June 2022 (GBPm)
Opening Organic Investment Closing Organic Total
FUM net new performance FUM net new mvmt
1 Apr 22 business in the period 30 Jun business
22
---------- ---------- --------------- -------- ---------- -------
BPS 9,325 1 (745) 8,581 -% (8.0)%
---------- ---------- --------------- -------- ---------- -------
MPS 2,895 330 (212) 3,013 11.4% 4.1%
---------- ---------- --------------- -------- ---------- -------
UKIM discretionary 12,220 331 (957) 11,594 2.7% (5.1)%
---------- ---------- --------------- -------- ---------- -------
Funds - DCF 484 (22) (23) 439 (4.5)% (9.3)%
---------- ---------- --------------- -------- ---------- -------
Funds - Other 1,528 (3) (107) 1,418 (0.2)% (7.2)%
---------- ---------- --------------- -------- ---------- -------
Funds total 2,012 (25) (130) 1,857 (1.2)% (7.7)%
---------- ---------- --------------- -------- ---------- -------
UKIM total 14,232 306 (1,087) 13,451 2.2% (5.5)%
---------- ---------- --------------- -------- ---------- -------
International 2,426 (26) (184) 2,216 (1.1)% (8.7)%
---------- ---------- --------------- -------- ---------- -------
Total 16,658 280 (1,271) 15,667 1.7% (5.9)%
---------- ---------- --------------- -------- ---------- -------
Total investment performance (7.6)%
----------------------------------------------------------------------- -------------------
MSCI PIMFA Private Investor Balanced Index(1) (7.4)%
----------------------------------------------------------------------- -------------------
Twelve months to 30 June 2022 (GBPm)
Opening Organic net new business Total Closing Total Total
FUM Inv. FUM organic mvmt
Perf. net new
business
-------- --------------------------------- -------- -------- ---------- --------
1 Jul Q1 Q2 Q3 Q4 Total 30 Jun
21 22
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
BPS 9,460 6 51 30 1 88 (967) 8,581 0.9% (9.3)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
MPS 2,411 162 156 181 330 829 (227) 3,013 34.4% 25.0%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
UKIM discretionary 11,871 168 207 211 331 917 (1,194) 11,594 7.7% (2.3)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
Funds -
DCF 478 (11) 2 (15) (22) (46) 7 439 (9.6)% (8.2)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
Funds -
Other 1,598 (15) (23) (20) (3) (60) (120) 1,418 (3.8)% (11.3)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
Funds total 2,076 (26) (21) (35) (25) (106) (113) 1,857 (5.1)% (10.6)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
UKIM total 13,947 142 186 176 306 810 (1,307) 13,451 5.8% 3.6%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
International 2,512 (14) 12 3 (26) (25) (271) 2,216 (1.0)% (11.8)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
Total 16,459 128 198 179 280 785 (1,578) 15,667 4.8% (4.8)%
-------- ------ ----- ----- ---- ----- -------- -------- ---------- --------
Total investment performance (9.6)%
------------------------------------------------------------------------------------- --------------------
MSCI PIMFA Private Investor Balanced Index(1) (6.3)%
------------------------------------------------------------------------------------- --------------------
(1) Capital-only index.
Notice of Full Year results
The Group intends to issue its preliminary statement of full
year results for the year ended 30 June 2022 on Thursday 15
September 2022.
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)
Paul Shackleton / Andrew Buchanan / John
Welch 020 7418 8900
FTI Consulting brooksmacdonald@fticonsulting.com
Edward Berry / Laura Ewart / Katherine 07703 330199 / 07711
Bell 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
GBP15.7 billion as at 30 June 2022.
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 fourteen offices across the UK and Crown
Dependencies including London, Birmingham, Cheltenham, East Anglia,
Exeter, Leeds, Manchester, Southampton, Tunbridge Wells, Scotland,
Wales, Jersey, Guernsey and Isle of Man.
LEI: 213800WRDF8LB8MIEX37
www.brooksmacdonald.com / @BrooksMacdonald
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