Brooks Macdonald climbs on record funds under management

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Brooks Macdonald climbs on record funds under management
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Investment management group Brooks Macdonald (LON:BRK) reported record discretionary funds under management of £12.4 billion for the year ended 30 June 2018, an increase of 18.7% over the year and 6.5% over the quarter.

I am pleased to report that a solid final quarter completes another year of impressive FUM growth for Brooks Macdonald,” commented CEO Caroline Connellan. “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.”

Shares in the firm climbed 60p to 1,850p (as at 10:51 BST).

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