The figure was 1.07% lower on 30 September than the £7.41bn recorded on 30 June. The firm noted that this is a considerably smaller fall that the WMA balanced index, which dropped 3.85% over what has been a volatile quarter in global markets.
The figure reported by Brooks is derived from a combination of investment performance which was -£263m and net new business, over the quarter, which was £180m.
The group’s property management business Braemar Estates had property assets under administration of £1.073bn, down from £1.14 billion the previous quarter. Third party assets under administration crept up to £260m from £255m.
“Investment markets have been weak in the first quarter which has an inevitable impact on funds under management and financial performance,” said Chris Macdonald, chief executive. “However we are pleased that new business is robust and demand for our risk rated investment solutions from both professional intermediaries and private clients continue to gain traction.”
