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Brooks Macdonald Group quarterly FUM falls amid weaker markets
StockMarketWire.com
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Investment manager Brooks Macdonald Group said Friday third-quarter discretionary funds under management fell compared to the previous quarter amid weaker markets.
Compared to the second quarter, discretionary funds under management declined 0.7% to £11.66bn. While discretionary funds under management rose 18.2% in the third quarter from £9.93bn the same period a year ago.
'Weaker markets have resulted in total funds under management declining slightly over the quarter,' the firm said.
The quarterly result was driven by net new business of £343m, but this was offset by a £422m decline in investment performance over the period.
At 8:38am: (LON:BRK) Brooks Macdonald Group PLC share price was +12.5p at 1862.5p
Story provided by StockMarketWire.com
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