Growth in funds for investment company
BROOKS MACDONALD INTERNATIONAL has reported growth in its total value of funds under management.
The Channel Islands subsidiary of the Brooks Macdonald Group said it rose by 58% in the latest quarter and by 64% over the half year to stand at a new record high of £2.6bn.
The firm said the performance was driven by the completion in December of the acquisition of Lloyds Bank’s Channel Islands wealth management and funds business, with its portfolio clients transferring to Brooks Macdonald International in line with expectations.
‘I am proud of what our teams in Jersey and Guernsey have delivered in the past six months in what has been an exceptionally difficult environment,’ said Andrew Shepherd, chief executive officer of Brooks Macdonald International.
‘Over the period we built momentum in net flows and completed the significant acquisition of Lloyds’ Channel Islands wealth management and funds business, a key part of the reinvigoration of our Channel Islands business. We have been pleased to welcome 20 new colleagues to the team as part of that acquisition too.
‘These are strong figures and give us good reason to be excited and positive about the future as we continue to pursue our vision of being the leading investment manager for clients, trustees and advisers.’
