26th Jan 2022 11:46
(Alliance News) - Brewin Dolphin Holdings PLC on Wednesday said its funds and total income increased on continued strong net flows and an investment performance of GBP1.5 billion.
The London-based investment advice company said discretionary net inflows totalled GBP700 million in its first quarter ended December 31. Total discretionary inflows amounted to GBP1.0 billion in the quarter, it added.
The company's total funds increased to GBP59.0 billion at December 31, which represents a 3.7% increase from GBP56.9 billion at September 30 and a 15% increase from GBP51.4 billion at the same point the year before.
Total discretionary funds ended the period at GBP52.0 billion, up 4.4% from GBP49.8 billion in a year before.
The investment advisor said that this was on the back of continued "strong" inflows of GBP1.0 billion and an investment performance of GBP1.5 billion.
Total income in the quarter amounted to GBP104.4 million, up 8.9% from GBP95.9 million the year before.
"We are pleased to announce a record first quarter performance with GBP1.0 billion of discretionary inflows. The consistently strong fund inflows momentum we have seen since the second quarter last year, is testimony that our advice-focused strategy and evolving investment solutions are supporting sustained growth in both our direct and indirect businesses," Chief Executive Robin Beer said.
Brewin Dolphin shares were up 2.0% at 331.50 pence each on Wednesday in London.
By Abby Amoakuh; [email protected]
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