17th Apr 2014 11:36
LONDON (Alliance News) - Brooks Macdonald Group PLC Thursday said its discretionary and advisory funds rose over the last quarter.
The integrated wealth management group said that as at March 31, discretionary funds under management totalled GBP5.92 billion, an increase of 4.2% compared with GBP5.68 billion as at December 31, 2013.
Advisory funds under management totalled GBP413 million at the end of the quarter, a 10.5% increase on the previous quarter, which stood at GBP374 million.
"The acquisition of DPZ Capital at the start of the new quarter has expanded our International business based in Jersey and adds a further around GBP360 million of funds under discretionary management. The acquisition of DPZ is a further exciting development for the group," said Chief Executive Chris Macdonald in a statement.
Brooks Macdonald shares were up 1.5% at 1,740.00 pence per share Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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