12th Oct 2023 14:22
Brooks Macdonald Group PLC - London-based wealth manager - Funds under management as at September 30 rise by about 0.1% to GBP16.86 billion from GBP16.85 billion at July 1. Chief Executive Officer Andrew Shepherd says: "I am pleased that inflows continue to be robust, and that our core UKIM discretionary business delivered positive net flows, reflecting continuing demand for our products and services. At the overall group level we saw net outflows, driven by the volatile macroeconomic backdrop and continuing high interest rates, which are leading clients to move towards higher cash holdings, debt repayment and investment in money market funds." Looking ahead, CEO Shepherd says the company is confident in its ability its growth strategy.
Current stock price: 1,624.00 pence, up 2.1% on Thursday
12-month change: down 11%
By Tom Budszus, Alliance News reporter
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