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Brooks Macdonald Group PLC on Thursday said that its funds under management increased in the quarter ended March 31, citing the commitment and focus of its clients. The AIM-listed wealth manager reported £16.79 billion funds under management as at March 31, up 3.5% from £16.23 billion at January 1. Brooks Macdonald said that the net flows were driven by platform MPS, which increased 21% to £3.18 billion from £2.63 billion. Chief Executive Officer Andrew Shepherd said: ‘I am grateful to our clients, our network of intermediaries, and in particular our people, whose commitment and focus on our clients make these results possible.’ The company added that the overall pipeline remains healthy despite market conditions continuing to affect conversion times. Brooks Macdonald shares were flat at 1,800 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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