The AIM listed company said its discretionary arm, which makes up the bulk of its funds under management (FuM), totalled £6.55bn at the end of June, compared with £5.11bn a year ago. Brooks Macdonald pointed out that this 28.2% growth was far ahead of the WMA Balanced index which grew by 6.2% over the same period.
The discretionary assets were boosted by the acquisition in April of DPZ Capital which brought in additional discretionary assets of £363m.
Brooks Macdonald said it expects DPZ to be earnings enhancing in the financial year ending 30 June 2015.
Another acquisition on the cards is Levitas Investment Management Services. Brooks Macdonald acquired the option to buy the company earlier this year with a view to expanding its range of risk-adjusted funds and adding further exposure to the pensions market, including auto-enrolment.
It said it “expects to exercise the option to acquire Levitas imminently”.
Brooks Macdonald included within the discretionary assets Brooks Macdonald Funds which had FuM of £518m at the end of June, a 32.8% increase on last year.
The company’s advisory business was also bolstered by £58.9m in assets from the DPZ acquisition bringing total assets for the division up to £456m from £348m a year ago.
The firm’s property management business, Braemar Estates, had property assets under administration of £1.13bn at the year end. Brooks Macdonald also reported third party assets have grown to “in excess” of £200m form £140m last year.
Chief executive Chris Macdonald said: “We have continued to see strong growth in our funds under management during the year, which are up 28% on last year and have now reached £6.55 billion. Progress across the group has also been highlighted by selective acquisitions to improve the offering of our Funds division, as well as our expanding international presence.
“Whilst we continue to invest heavily for future growth, particularly in systems development, and adapt to the changing regulatory landscape, we look forward to making further progress in the new financial year.”
