Group annual results published by investment managers

Friday 14 October 2022

Brooks Macdonald Group has announced its audited results for the year, revealing revenue increases for the International business of 16.5% with funds under management of £2.2bn.

Net outflows reduced from £59.8million to £25.4million overall. The results also reflect the full year impact of the Lloyds Channel Islands business, which was acquired in late 2020.

For the overall Group, the results show revenue of £122.2 million, up 3.4% the previous year. Group Funds Under Management slightly decreased at £15.7 billion as net flows were offset by the impact of declining markets on asset values.

Richard Hughes, CEO, Brooks Macdonald International, said the year was positive overall: "We've delivered improved net flows and, in its first full-year, the Lloyds Channel Islands business has positively impacted revenue. Our new Isle of Man office has established itself well and is expected to be an increasing source of growth.

"Our clients and the professional advisers we partner with are facing a challenging macroeconomic and market environment and, as ever, we will support them through these difficult times. Despite these challenges, the fundamental long-term opportunity for Brooks Macdonald remains strong.

"We have momentum, we have an ambitious growth strategy, and we have a strong team ready to take full advantage of the opportunities ahead."

Pictured (top): Richard Hughes.