Brooks sees off volatility to cap strong growth

 
Adam Hignett
BROOKS Macdonald Group claims it has successfully weathered the market turbulence of 2014, after a 6.15 per cent growth in discretionary funds under management during the six months to 31 December met management expectations.

The Aim-listed wealth management group recorded £6.95bn in discretionary funds under management at the end of the last quarter, with quarterly growth of 4.1 per cent outperforming the WMA balanced private investor index which rose by 2.4 per cent.

The company did, however, see a decline in the value of advisory funds under management during the last quarter to £457m, a decline of 0.65 per cent.

In addition, the company’s subsidiary Braemar Estates saw property assets under administration decline 4.4 per cent to £1.1bn during the quarter.

Third party assets under management are now recorded in excess of £225m, up from £215m in September 2014.

Boss Chris Macdonald said: “The group has continued to make good progress in the second quarter, capping a solid first half performance despite volatile markets and industry change.”