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Brooks Macdonald Group PLC - London-based investment manager - Funds under management ends September 30 at £15.52 billion, slipping from £15.67 billion at June 30. Records £191 million organic net new business in three-month period, its first quarter, but investment performance wipes £334 million off total funds.
Says total investment performance in first quarter was negative 2.1%, but this outperforms MSCI PIMFA Private Investor Balanced Index which records negative 3.6%.
‘Despite the difficult political and economic conditions in our first quarter, net flows were running at an annualised 4.9% - an excellent result, continuing the trend seen in the previous financial year,’ Chief Executive Andrew Shepherd says. ‘We remain confident in our expectations for new business flows and in the group's ability to deliver our ambitious growth strategy.’
Current stock price: 1,801.75 pence, down 1.0% on Thursday
12-month change: down 32%
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