24th Jul 2015 08:24
LONDON (Alliance News) - Wealth manager Brooks Macdonald Group PLC on Friday said trading in the financial year to the end of June was in line with its expectations, despite some "unhelpful" market disruptions in the fourth quarter.
The company said its discretionary funds under management at the end of June rose to GBP7.41 billion, up from GBP6.55 billion a year earlier. In the fourth quarter, however, funds under management fell by GBP56 million thanks to adverse market movements.
"We have had another year of growth in our funds under management, which are up 13% on last year and have now reached GBP7.41 billion. This has been achieved by a combination of organic growth and good investment performance. We have also continued to invest in enhancing our team, capabilities and systems," said Chris Macdonald, Brooks Macdonald's chief executive.
Shares in Brooks Macdonald were up 2.2% to 1,780.00 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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