StockMarketWire.com - Brooks Macdonald Group's discretionary funds under management rose from £9,330m to £9,932m in the three months to the end of March.

The group said that of this 3.12% (£291m) was net new business and 3.33% (£311m) investment performance.

It said that as a comparison the WMA balanced index increased by 2.78% over the quarter.

Chief executive Caroline Connellan said: "Having made reasonable progress during difficult conditions in the first half, the third quarter has showed continued momentum with further organic growth across all lines of discretionary fund management.

"Encouragingly, our funds business reached £1bn during the period. "Over the quarter our net new business improved to over 3% while performance for clients was positive on both relative and absolute bases.

"Whilst some concerns over client sentiment remain given the economic outlook, Brexit negotiations and upcoming elections, we are focused on maintaining the impetus during this final quarter of the year."




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