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Brooks Macdonald suffers £600m net outflows amid 'challenging' economic backdrop
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According to its annual report for 2024 published today (12 September), the firm noted market volatility and higher interest rates among the challenges faced over the year to 30 June 2024, which pushed clients to withdraw funds to repay debt or to hold higher cash balances. Andrew Shepherd, outgoing CEO of Brooks Macdonald, noted that net outflows came largely from the firm's bespoke and funds products, while their model portfolio service raked in £388m, «reflecting the trend for MPS as a solution of choice for accumulation». Nevertheless, the firm cashed in £1.8bn in investment perfo...
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