British wealth manager Brooks Macdonald Group said that its discretionary funds under management (FuM) stood at £8.01bn at the end of March 2016, a 2.37% rise compared to £7.82bn in 31 December 2015.
The company attributed the rise in FuM during the third quarter to net new business of £241m, though investment performance lost £56m. The figures include all discretionary funds managed by the company across asset management, funds and international, the group said.
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Assets at Braemar Estates, the company’s property management arm, increased to £1.13bn from £1.12bn at 31 December 2015.
Meanwhile, third party assets under administration increased to more than £260m, compared to £245m as of 31 December 2015.
Brooks Macdonald CEO Chris Macdonald said: "After good progress in the first half, we have had a satisfactory third quarter, growing discretionary funds under management to over £8 billion, for the first time in our history.
"Net organic growth remained strong at over 3% for the quarter although our underweight positions in Resources and UK Fixed Income caused client portfolios to lag the benchmark after a sustained period of outperformance."
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