Brooks Macdonald International's Funds Under Management recorded an investment performance of £0.2 billion in the last three months.
The Brooks Macdonald Group published an update on Funds under Management (“FUM”) for the fourth quarter of its financial year (ending 30 June 2020), together with a Trading Update for the period.
The update showed that Brooks Macdonald International, the Channel Islands subsidiary of Brooks Macdonald, recorded improved flows during the quarter and enjoyed investment performance of £0.2 billion (11.1%), taking its closing FUM position to £1.6 billion.
“I am pleased by our results for the fourth quarter," said Andrew Shepherd, CEO of Brooks Macdonald International.
"We have continued to reinvigorate the International business and maintained strong investment performance. I am impressed by, and grateful for, our people’s response to the current challenges. They have adapted seamlessly to the remote working environment of the Covid-19 lockdown, while further reinforcing the strong relationships we have with advisers, clients and trustees.
“We have also made significant steps forward in achieving our growth ambitions while continuing to take the necessary actions to set the business up for further success.”
The firm recently announced the acquisition of Lloyds Bank International’s Channel Islands wealth management and funds business for £9.6m. The acquisition will add up to c.£1.0 billion in FUM to the International business and is expected to be completed later this year.
Pictured top: Andrew Shepherd, CEO of Brooks Macdonald International.
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