Despite choppy equity markets, wealth manager Brooks Macdonald (BRK) grew its discretionary funds under management by 13 per cent to £7.4bn in the year to June, capping a strong year for the company.
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This compared with the 4 per cent growth in the industry benchmark, the WMA Balanced Index. In a more difficult final quarter, volatile equity markets did mean a £56m fall in discretionary FUM, as investor confidence was knocked. But trading for the year was in line with expectations, and encouragingly the manager’s in-house funds arm grew its assets by more than a quarter over the year to £663m.
