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Brooks Macdonald MPS assets climb to £3.9bn but firm sees £100m net outflow

BM Investment Solutions offering for advisers contributed to 7.3% rise

Andrew Shepherd

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Brooks Macdonald’s MPS assets rose to £3.9bn in the three months to the end of December.

The MPS range, which includes the BM Investment Solutions offering for advisers, saw a 7.3% rise with organic net flows contributing 3.3%.

For the group as a whole, net flows dipped into negative territory, with £600m flowing in, up 1.5%, and £700m being pulled out.

The firm said the outflows were driven by the backdrop of volatility and higher interest rates continuing to affect client behaviour.

See also: What does 2024 hold in store for the wealth management industry?

Investment performance easily cancelled out the outflow though, with total funds under management up 4.3% in the quarter to £17.6bn.

Turning to the outlook for the rest of the year, the firm said it expects to see momentum in inflows. The level of gross outflows and the resulting full year net flows will be ‘dependent in part on macroeconomic factors’.

It expects full year profit and the underlying profit margin to be in line with market expectations.

CEO Andrew Shepherd commented: “I am pleased to report growth of 4.3% in the group’s FUM for the first half of the financial year. This result is a testament to the expertise and hard work of our people who are committed to delivering on our purpose to ‘realise ambitions and secure futures’ for all our stakeholders.

“During a challenging period for both the economy and financial markets, we continued to see healthy demand across our range of products and services.”

See also: Schroders launches multi-asset income fund

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