Brooks Macdonald continued to stem outflows in the three months to the end of June, marking the firm’s best quarterly performance in two years.
The group’s fourth quarter trading update, published today (10 July), shows net outflows of £5m, a significant improvement on the £129m of net outflows seen in Q3.
Net outflows from the bespoke portfolio service slowed to £104m, 51% lower than in Q3 while the managed portfolio service attracted net inflows of £165m.
The improvement in flows comes after Brooks Macdonald took action to spark growth earlier in the financial year, including systematic client engagement and acquisitions.
Total funds under administration increased to £19.2bn, up from £18.6bn in Q3 and £16.4bn the previous year. Advised only assets nudged up to £2.6bn from £2.5bn over the quarter while market and investment performance contributed £0.6bn in Q4 and £0.7bn for the full year.
Andrea Montague, CEO of Brooks Macdonald, said: “Today, we reported our best quarterly net flow performance in two years and a significant sequential quarterly improvement.
“Our focus remains firmly on executing, at pace, against our strategy. In June, we launched a new suite of retirement strategies that deliver greater income security and growth for clients in their retirement. This builds on the recent launch of our global MPS proposition.”
