TIDMBRK
RNS Number : 3347I
Brooks Macdonald Group PLC
14 April 2022
14 April 2022
BROOKS MACDONALD GROUP PLC
Quarterly Announcement of Funds under Management
"Continuing positive net flows of GBP0.2 billion for the
quarter"
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group")
today publishes a n update on Funds under Management ("FUM") for
its third quarter ended 31 March 2022 .
Continued positive net flows of GBP0.2 billion were offset by
weaker global markets, where pre-existing macroeconomic
difficulties were exacerbated by the economic consequences of the
war in Ukraine. This led to a decrease of 3.9% in total FUM in the
quarter, ending the period at GBP16.7 billion (31 December 2021:
GBP17.3 billion). This is 1.2% ahead of the Group total at the
beginning of the financial year (30 June 2021: GBP16.5
billion).
-- Group net flows continued positive at GBP0.2 billion for the
quarter, corresponding to annualised net flows of 4.1%, in line
with guidance given at the interim results
-- Positive BPS and MPS flows contributed to net inflows of
GBP0.2 billion or 1.7% for UKIM Discretionary. MPS generated strong
flows with Platform MPS and BMIS continuing to build momentum and
delivering combined annualised net flows of 39% in the quarter
-- The overall pipeline remains healthy although, as previously
guided, current market conditions are expected to affect near-term
conversion times
-- Underlying business performance remains in line with our
recent guidance, subject to further market movements .
Andrew Shepherd, CEO of Brooks Macdonald commented:
"This has been a solid quarter for Brooks Macdonald, despite the
volatile market backdrop driven by the war in Ukraine, with
continuing positive net flows providing further evidence of the
success of our strategy. As ever, this is primarily down to the
commitment and high quality delivery of our people, who give me
great confidence in the Group's continued success."
Analysis of fund flows by service over the period
Quarter to 31 March 2022 (GBPm)
Opening Organic Investment Closing Organic Total
FUM net new performance FUM net new mvmt
1 Jan 22 business in the period 31 Mar 22 business
---------- ---------- --------------- ----------- ---------- -------
BPS 9,814 30 (519) 9,325 0.3% (5.0)%
---------- ---------- --------------- ----------- ---------- -------
MPS 2,834 181 (120) 2,895 6.4% 2.2%
---------- ---------- --------------- ----------- ---------- -------
UKIM discretionary 12,648 211 (639) 12,220 1.7% (3.4)%
---------- ---------- --------------- ----------- ---------- -------
Funds - DCF 495 (15) 4 484 (3.0)% (2.2)%
---------- ---------- --------------- ----------- ---------- -------
Funds - Other 1,604 (20) (56) 1,528 (1.2)% (4.7)%
---------- ---------- --------------- ----------- ---------- -------
Funds total 2,099 (35) (52) 2,012 (1.7)% (4.1)%
---------- ---------- --------------- ----------- ---------- -------
UKIM total 14,747 176 (691) 14,232 1.2% (3.5)%
---------- ---------- --------------- ----------- ---------- -------
International 2,582 3 (159) 2,426 0.1% (6.0)%
---------- ---------- --------------- ----------- ---------- -------
Total 17,329 179 (850) 16,658 1.0% (3.9)%
---------- ---------- --------------- ----------- ---------- -------
Total investment performance (4.9)%
-------------------------------------------------------------------------- -------------------
MSCI PIMFA Private Investor Balanced Index(1) (2.7)%
-------------------------------------------------------------------------- -------------------
Nine months to 31 March 2022 (GBPm)
Opening Organic Organic Organic Inv. Closing Total Total
FUM net new net new net new perf. FUM organic mvmt
1 Jul business business business in the 31 Mar net new
21 Q1 Q2 Q3 period 22 business
-------- ---------- --------- --------- -------- -------- ---------- -------
BPS 9,460 6 51 30 (222) 9,325 0.9% (1.4)%
-------- ---------- --------- --------- -------- -------- ---------- -------
MPS 2,411 162 156 181 (15) 2,895 20.7% 20.1%
-------- ---------- --------- --------- -------- -------- ---------- -------
UKIM discretionary 11,871 168 207 211 (237) 12,220 4.9% 2.9%
-------- ---------- --------- --------- -------- -------- ---------- -------
Funds - DCF 478 (11) 2 (15) 30 484 (5.0)% 1.3%
-------- ---------- --------- --------- -------- -------- ---------- -------
Funds - Other 1,598 (15) (23) (20) (12) 1,528 (3.6)% (4.4)%
-------- ---------- --------- --------- -------- -------- ---------- -------
Funds total 2,076 (26) (21) (35) 18 2,012 (3.9)% (3.1)%
-------- ---------- --------- --------- -------- -------- ---------- -------
UKIM total 13,947 142 186 176 (219) 14,232 3.5% 2.0%
-------- ---------- --------- --------- -------- -------- ---------- -------
International 2,512 (14) 12 3 (87) 2,426 (0.0)% (3.4)%
-------- ---------- --------- --------- -------- -------- ---------- -------
Total 16,459 128 198 179 (306) 16,658 3.1% 1.2%
-------- ---------- --------- --------- -------- -------- ---------- -------
Total investment performance (1.9)%
------------------------------------------------------------------------------------------------ -------
MSCI PIMFA Private Investor Balanced Index(1) 1.2%
------------------------------------------------------------------------------------------------ -------
(1) Capital-only index.
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Andrew Shepherd, CEO 020 7659 3492
Ben Thorpe, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker)
Rishi Shah / Andrew Buchanan / John Welch 020 7418 8900
FTI Consulting brooksmacdonald@fticonsulting.com
Laura Ewart / Katherine Bell 07711 387085 / 07976
870961
Notes to editors
Brooks Macdonald Group plc, through its various subsidiaries,
provides leading investment management services in the UK and
internationally. The Group, which was founded in 1991 and began
trading on AIM in 2005, had discretionary Funds under Management of
GBP16.7 billion as at 31 March 2022.
Brooks Macdonald offers a range of investment management
services to private high net worth individuals, pension funds,
institutions, charities and trusts. The Group also provides
financial planning as well as international investment management,
and acts as fund manager to a range of onshore and international
funds.
The Group has fourteen offices across the UK and Crown
Dependencies including London, Cheltenham, East Anglia, Exeter,
Leamington Spa, Leeds, Manchester, Southampton, Tunbridge Wells,
Scotland, Wales, Jersey, Guernsey and Isle of Man.
LEI: 213800WRDF8LB8MIEX37
www.brooksmacdonald.com / @BrooksMacdonald
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