A rise in net new business helped the Channel Islands subsidiary of AIM-listed investment management group Brooks Macdonald to record a positive performance for the third quarter of its financial year, ending 31 March 2019.
According to figures published by the Group as part of its quarterly announcement of funds under management (FUM) show that Brooks Macdonald International, which has offices in Jersey and Guernsey, closed the quarter with £1.6bn in FUM, an increase of 3.9% over the quarter.
This was driven by a rise in net new business (£14m), as well as a quarterly investment performance that added £45m.
As a whole, the group recorded total FUM of £12.8bn, an increase of 7.9% on the prior quarter, driven by net new business (£166m) and investment performance (£773m).
Commenting on the results, Andrew Shepherd (pictured), CEO, International, Brooks Macdonald, said: “We have continued to perform well overall as a group and I’m pleased our International business in Jersey and Guernsey reflects this, with positive net new business and strong investment performance.
"We remain focused on the growth of business in the Channel Islands and continue to see a strong pipeline of activity as a result of our efforts in overseas markets, in particular the Middle East and South Africa.”