The firm’s full-year results released 24 July, showed FUM jumped from £6.55bn 12 months previously to £7.41bn ($11.5bn, €10.4bn), driven largely by Brooks Macdonald Funds growing 28% from £518m to £663m.
This £863m uptick was offset slightly in the three months to 30 June, during which FUM tracked back by £56m – a drop of 0.75%.
Likewise, investment growth declined, down £210m against an increase of £310m in 2014, while net new discretionary business for the year was significantly lower than the 24 months prior, totalling £154m compared to £750m and £645m in the 12 months to 30 June 2014 and 2013 respectively.
All in all, Brooks Macdonald’s total growth figure slid back 0.75% for the year, having gone up 28.2% and 13.2% in 2014 and 2013 respectively.
However, positives included the firm’s property business, Braemar Estates, seeing its assets under administration increasing by £10m to £1.14bn, alongside Brooks Macdonald’s third-party AUA exceeding £255bn.
“[The FUM rise] has been achieved by a combination of organic growth and good investment performance,” said Chris Macdonald, Brooks Macdonald CEO.
“We have also continued to invest in enhancing our team, capabilities and systems. We look forward to making further progress in the new financial year.”
The trading update follows Christopher Knight, Brooks Macdonald’s chairman, revealing in May that he expects the firm’s funds business to break even in H2 2015.
