Brooks Macdonald Group Expects Continued Momentum in Gross Inflows

The Brooks Macdonald Group, a prominent U.K. asset manager, anticipates maintaining strong momentum in gross inflows throughout the second half of fiscal 2024. In its latest report, the company revealed a rise in funds under management for the second quarter.

As per the report, the level of gross outflows and resulting net inflows for the year will be influenced by macroeconomic factors. However, the company remains optimistic about achieving full-year underlying profit and underlying profit margin in line with market expectations.

As of December 31, the funds under management stood at £17.58 billion ($22.21 billion), marking an increase from the previous quarter's £16.86 billion.

This growth in funds can be attributed to positive investment performance, which more than offset net outflows of £0.1 billion during the period.

Despite the challenging economic and financial landscape, Brooks Macdonald Group witnessed robust demand for its range of products and services.

Additionally, the company successfully implemented organizational changes, keeping costs within the estimated £3 million. This move resulted in approximately £4 million in savings for the year.