14th Jan 2021 12:14
Brooks Macdonald Group PLC - investment management firm headquartered in London - Total funds under management for its financial second quarter ended December 31 increase by 14% to GBP15.5 billion from GBP13.7 billion as at September 30. This was driven by "strong investment performance, an improving trend in net flows, and completion of the acquisition of Lloyds Banking Group PLC's Channel Islands wealth management and funds business" back in June.
Second quarter investment performance was up 7.9% for the quarter at GBP1.08 billion, ahead of the MSCI PIMFA Private Investor Balanced Index, which was up 7.0%. For the half year, investment performance was up 9.5%, again ahead of the benchmark which was up 6.5%. Suffers organic net outflow of GBP106 million in the the second quarter, but funds acquired of GBP882 million more than offset this.
Says on track to meet its full-year revenue, underlying profit and margin view expectations.
Current stock price: 1,857.00 pence
Year-to-date change: up 13%
By Zoe Wickens; [email protected]
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