StockMarketWire.com - Brooks Macdonald's discretionary funds under management totalled GBP £7.82 billion at the end of December - an increase of 6.71% from 30 September. It says that as a comparison the WMA balanced index rose by 3.22% over the quarter.

The group's property management business Braemar Estates had property assets under administration of GBP1.127 billion, an increase of 1.29% from 30 September. Chief executive Chris Macdonald said: "The group has made good progress in the first half despite considerable market volatility, with FUM exceeding GBP7.8bn. Over the 2015 calendar year discretionary funds under management grew by over GBP850m through organic growth alone. Part of this growth has been fuelled by the planned movement of advisory clients to discretionary mandates in BMI. This effects income in the current financial year ended 30 June 2016, but it is our stated aim and a positive for the group medium term.

"Our investment performance and new business remain strong and this is in spite of highly challenging market conditions."




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