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Brooks Macdonald Group PLC - London-based investment management services provider - Funds under management at the end of financial second quarter to December 31 total £16.23 billion, up 4.6% from £15.52 billion at the start of the quarter on October 1. This includes net inflows of around £200 million, ‘reflecting continued momentum in new business’, plus positive investment performance of £500 million. Says second-quarter investment performance of positive 3.5% is in line with benchmark MSCI PIMFA Private Investor Balanced Index.
Says across half-year ending December 31, the group trades solidly, despite ‘difficult prevailing macroeconomic environment and market conditions’. Expects underlying profit and underlying profit margin in the year to date and full year forecast to be in line with current market expectations.
Chief Executive Officer Andrew Shepherd says: ‘We remain in a strong position to take advantage of the great opportunities ahead for Brooks Macdonald.’
Current stock price: 2,177.00 pence, up 4.2% in London on Thursday
12-month change: down 18%
By Greg Rosenvinge, Alliance News reporter
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