StockMarketWire.com - Brooks Macdonald Group says trading for the year to the end of June was in line with expectations and good progress was made despite unhelpful markets during the fourth quarter period.

Th group says that over the course of the year it has continued to pursue organic growth, whilst enhancing its team, capabilities and systems. It successfully moved its London head office in May to new West End premises; this will facilitate further expansion and underlines its growth ambitions for the future.

As at 30 June, discretionary funds under management totalled £7.41 billion (30 June 2014: £6.55 billion). Over the year discretionary funds grew by £863 million (or 13.1%). As a comparison, the WMA Balanced index increased by 3.74% over the year.

Over the last quarter, discretionary funds under management fell by £56 million. This was a fall of 0.75%. As a comparison, the WMA Balanced index decreased by 3.43% over the quarter. Included in the total is Brooks Macdonald Funds, which had funds under management of £663 million at the year end (30 June 2014: £518 million), an increase of 28% over the year.

The Group's property management business, Braemar Estates, had property assets under administration of £1.14 billion at the year end (30 June 2014: £1.13 billion), an increase of 0.88%, or £0.01million. Third party assets under administration The Group now has third party assets under administration in excess of £255 million (30 June 2014: >£200 million).

Notice of results

Chief executive Chris Macdonald said: "We have had another year of growth in our funds under management, which are up 13% on last year and have now reached £7.41 billion. This has been achieved by a combination of organic growth and good investment performance. We have also continued to invest in enhancing our team, capabilities and systems. "We look forward to making further progress in the new financial year."

The group intends to issue its results for the year on Thursday 17 September 2015.


At 8:17am: [LON:BRK] Brooks Macdonald Group PLC share price was +15.5p at 1758p



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