Brooks Macdonald Group (BRK)

Sector:

Financials

Index:

FTSE AIM 100

 2,020.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 2,130.00
  • 52 Week Low: 1,590.00
  • Currency: UK Pounds
  • Shares Issued: 16.47m
  • Volume: 0
  • Market Cap: £332.74m
  • RiskGrade: 164

Brooks Macdonald trades 'solidly' in first half

By Josh White

Date: Thursday 12 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Brooks Macdonald said in an update on Thursday that its funds under management were up 4.5% in the December quarter, with net inflows of £0.2bn for an annualised rate of 4.0%.
The AIM-traded firm said that performance reflected "continued momentum" in new business, and positive investment performance of £0.5bn, leading to closing funds under management of £16.2bn on 31 December, compared to £15.5bn at the end of September.

Within UK investment manager, Brooks Macdonald said Platform MPS, including BM Investment Solutions, continued to gain market share, recording "strong" net flows in the period for an annualised rate of 52.5%, with a "robust" pipeline.

UK BPS experienced net outflows in the quarter, meanwhile, which the board put down to continued economic uncertainty, making clients more cautious and thus taking longer to commit funds.

The group completed two acquisitions in the quarter, of Integrity Wealth Solutions and Adroit Financial Planning, which the directors said demonstrated the firm's ability to identify and integrate businesses that would build capability and broaden the offering.

Investment performance for the quarter was 3.5%, in line with the benchmark MSCI PIMFA Private Investor Balanced Index.

The group said it traded "solidly" in the first half, despite a "difficult" prevailing macroeconomic environment and market conditions.

Underlying profit and underlying profit margin, both year-to-date and full-year forecast, were running in line with current market expectations.

"I am pleased to report that we have delivered c.£350m of positive net flows so far this financial year, demonstrating the continuing demand from our clients and intermediaries for high quality investment management, despite the challenging macroeconomic environment and difficult market conditions," said chief executive officer Andrew Shepherd.

"It has been a solid half year for the group, with positive organic growth and two acquisitions completed in the period, underlining our continued progress towards our strategic ambitions.

"We remain in a strong position to take advantage of the great opportunities ahead for Brooks Macdonald."

At 1144 GMT, shares in Brooks Macdonald Group were up 3.83% at 2,170p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BRK Market Data

Currency UK Pounds
Share Price 2,020.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 2,130.00
52 Week Low 1,590.00
Volume 0
Shares Issued 16.47m
Market Cap £332.74m
RiskGrade 164

BRK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.93% above the market average4.93% above the market average4.93% above the market average4.93% above the market average4.93% above the market average
64.29% below the sector average64.29% below the sector average64.29% below the sector average64.29% below the sector average64.29% below the sector average
Price Trend
13.62% above the market average13.62% above the market average13.62% above the market average13.62% above the market average13.62% above the market average
12.07% above the sector average12.07% above the sector average12.07% above the sector average12.07% above the sector average12.07% above the sector average
Income
52.85% above the market average52.85% above the market average52.85% above the market average52.85% above the market average52.85% above the market average
26.47% below the sector average26.47% below the sector average26.47% below the sector average26.47% below the sector average26.47% below the sector average
Growth
67.83% below the market average67.83% below the market average67.83% below the market average67.83% below the market average67.83% below the market average
35.24% below the sector average35.24% below the sector average35.24% below the sector average35.24% below the sector average35.24% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 1
Sell 1
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BRK Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Mar-24 21-Sep-23
Paid 16-Apr-24 03-Nov-23
Amount 29.00p 47.00p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

BRK Key Personnel

Chair Maarten Slendebroek

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