Brooks Macdonald boosts discretionary funds to £5.68bn

Brooks Macdonald saw its discretionary funds under management increase by 11 per cent to £5.68bn in the second half of 2013 compared to £5.11bn in the first six months of the year.

The increase is above the APCIMS balanced index which grew 5 per cent over the period.

In a trading update this morning Brooks’ revealed advisory assets managed under management managed by Brooks Macdonald International rose 7 per cent to £374m compared to £354m in the previous half-year.

The six-month period saw Brooks launch a joint venture with property business North Row Capital and acquire an option to buy Levitas investment Management.

Third party assets currently stands at £160m while its property management business Braemer Estates has assets of £1.07bn.

Brooks chief executive Chris Macdonald says: “The first half of our financial year has seen good progress made across the Group, with strong organic growth in funds under management aided in part by positive investment conditions.

“We continue to review interesting acquisition opportunities as evidenced by the Levitas and North Row Capital transactions, both of which further enhance our investment offering.”