Brooks Macdonald funds under management rise 7.5% on positive Q4 flows
Andrew Shepherd (pictured) is the CEO of Brooks Macdonald
In its results for the three months to 30 June 2023 released today (13 July), the firm also reported a small increase in flows, with a 0.6% rise of £100m. The company said positive flows were partly offset by the impact of declining markets.
The UK investment management discretionary arm delivered net inflows of £200m in Q2, with overall FUM rising by 1.5% over the quarter.
Platform MPS and BM Investment Solutions posted the biggest increase with combined annualised net flows of 38%.
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Investment performance in the three months to 30 June, however, was marginally negative at -0.3%. Despite this, it still outperformed the MSCI PIMFA Private Investor Balanced index, the company said.
It explained: «Prevailing market conditions and higher interest rates continue to affect investor sentiment with increased trends towards higher cash holdings, debt repayment and investment in money market funds in the short term.»
Brooks Macdonald also posted a trading update for the year ending 30 June 2023, reporting £800m in inflows for the period — marking a 5.1% increase.
Investment performance over the 12 months contributed £400m, leading to a 7.5% rise in FUM, compared with £15.6 at the end of June 2022.
Trading performance in the second half of the year was «solid», it said, but it expects investor sentiment to remain subdued «while markets continue to be uncertain in the near term».
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Andrew Shepherd, CEO of Brooks Macdonald, added: «I am pleased to report another quarter of positive net flows, particularly within our Platform MPS
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