16
October 2024
BROOKS MACDONALD GROUP
PLC
Quarterly Announcement of
Funds under Management
Brooks Macdonald Group plc ("Brooks Macdonald"
or the "Group") today publishes a trading update and its quarterly
announcement of Funds under Management ("FUM") for the first
quarter of its financial year ending 30 June 2025.
Andrea Montague, CEO of Brooks Macdonald
commented:
"Our business has shown resilience
through improved client retention across all our UK
propositions.
The considerable speculation around the
upcoming Budget and rumoured changes to taxation and reliefs has
clearly had an impact on investor confidence with lower gross
inflows in the quarter.
Our recently announced acquisitions of LIFT and
Lucas Fettes demonstrate the pace at which we are delivering on our
strategy, to reignite growth focusing on client service, reach,
scale, and efficiency. I remain confident about unlocking the full potential of Brooks Macdonald."
Quarterly Announcement of Funds under
Management[1]
During the first quarter of the financial year,
the Group saw net outflows of £0.1 billion (Q4 FY24: £0.1 billion),
representing 0.7% of Funds under Management, as uncertainty around
the Budget led to a reduction in gross inflows, down 6.0% quarter
on quarter.
MPS Platform, including the Group's B2B
offering for financial advisers, BM Investment Solutions ("BMIS"),
grew to £4.6 billion (30 June 2024: £4.4 billion) with annualised
organic net new business in the quarter of 13.0% of opening
FUM.
Encouragingly, gross outflows were down 5.1%
quarter on quarter, marking their second sequential
reduction.
The net outflows were offset by positive
investment performance in the quarter resulting in the Group's
closing FUM increasing to £17.9 billion (30 June 2024: £17.8
billion).
Analysis of FUM net flows by service over the quarter (ex
DCF)
|
Quarter to 30 September 2024
(£m)
|
|
|
Opening FUM
1 Jul 24
|
Organic net new
business
|
Investment performance in the
period
|
Closing FUM
30 Sep 24
|
Organic net new
business
|
Total mvmt
|
|
BPS
|
8,880
|
(176)
|
131
|
8,835
|
(2.0)%
|
(0.5)%
|
|
MPS Custody
|
974
|
(26)
|
13
|
961
|
(2.7)%
|
(1.3)%
|
|
MPS Platform
|
4,367
|
142
|
45
|
4,554
|
3.3%
|
4.3%
|
|
MPS
total
|
5,341
|
116
|
58
|
5,515
|
2.2%
|
3.3%
|
|
Funds
|
1,323
|
(51)
|
14
|
1,286
|
(3.9)%
|
(2.8)%
|
|
UK
total
|
15,544
|
(111)
|
203
|
15,636
|
(0.7)%
|
0.6%
|
|
International
|
2,262
|
(16)
|
25
|
2,271
|
(0.7)%
|
0.4%
|
|
Total
|
17,806
|
(127)
|
228
|
17,907
|
(0.7)%
|
0.6%
|
Analysis of FUM gross flows by service over the quarter (ex
DCF)
|
|
Gross
inflows
|
Gross
outflows
|
|
Q4
FY24
|
Q1
FY25
|
Q1 vs Q4
Inc/(Dec)
|
Q4
FY24
|
Q1
FY25
|
Q1 vs Q4
Inc/(Dec)
|
|
BPS
|
185
|
160
|
(13.5)%
|
(343)
|
(336)
|
2.0%
|
|
MPS Custody
|
21
|
14
|
(33.3)%
|
(46)
|
(40)
|
13.0%
|
|
MPS Platform
|
325
|
311
|
(4.3)%
|
(190)
|
(169)
|
11.1%
|
|
MPS
total
|
346
|
325
|
(6.1)%
|
(236)
|
(209)
|
11.4%
|
|
Funds
|
52
|
43
|
(17.3)%
|
(102)
|
(94)
|
7.8%
|
|
UK
total
|
583
|
528
|
(9.4)%
|
(681)
|
(639)
|
6.2%
|
|
International
|
34
|
52
|
52.9%
|
(64)
|
(68)
|
(6.3)%
|
|
Total
|
617
|
580
|
(6.0)%
|
(745)
|
(707)
|
5.1%
|
Enquiries:
Brooks Macdonald Group plc
Andrea Montague, CEO &
CFO
Andrea.Montague@brooksmacdonald.com
Singer Capital Markets Advisory
LLP
+44 (0) 20 7496 3000
(Nominated Adviser and Joint
Broker)
Charles Leigh-Pemberton/James
Moat
Investec Bank plc (Joint
Broker)
+44 (0) 20 7597 5970
Christopher Baird/David
Anderson
FTI
Consulting (Media
Enquiries)
Brooksmacdonald@fticonsulting.com
Edward Bery/Katherine
Bell
+44 (0) 7703 330199/+44 (0) 7976 870961
About Brooks Macdonald
Brooks Macdonald is one of the UK's
leading wealth management firms, recognised for investment
performance and client service. The company offers leading multi
asset investment services to intermediaries and high-quality
financial planning advice to private clients, benefitting from a
strong local presence across the UK.
Brooks Macdonald Group plc was
founded in 1991, began trading on AIM in 2005, and had
discretionary FUM of £17.9 billion as of 30 September
2024.
Forward-looking
statements
This announcement may include
statements, beliefs or opinions that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may
be identified by the use of forward-looking terminology, including
the terms "believes", "estimates", "plans", "projects",
"anticipates", "targets", "aims", "continues", "expects",
"intends", "hopes", "may", "will", "would", "could" or "should" or,
in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. No representation or warranty
is made that any of these statements or forecasts will come to pass
or that any forecast results will be achieved. Forward-looking
statements may and often do differ materially from actual results.
Any forward-looking statements contained in the announcement speak
only as of their respective dates, reflect Brooks Macdonald's
current view with respect to future events and are subject to risks
relating to future events and other risks, uncertainties and
assumptions relating to Brooks Macdonald's business, results of
operations, financial position, liquidity, prospects, growth and
strategies.
Except as required by any applicable
law or regulation, Brooks Macdonald expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this
announcement or any other forward-looking statements it may make
whether as a result of new information, future developments or
otherwise.
LEI:
213800WRDF8LB8MIEX37
www.brooksmacdonald.com
/ @BrooksMacdonald