Brooks Macdonald Group (BRK)

Sector:

Financials

Index:

FTSE AIM 100

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1,895.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 2,195.00p
  • 52 Week Low: 1,367.50p
  • Currency: UK Pounds
  • Shares Issued: 13.95m
  • Volume: 1,792
  • Market Cap: £264.40m
  • RiskGrade: 119

Brooks Macdonald FUM pressurised by turbulent market conditions

By Duncan Ferris

Date: Thursday 24 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Brooks Macdonald on Thursday reported that market volatility had led to a reduction in its funds under management over the past six months.
The investment manager said discretionary funds under management fell from £12.4bn in June 2018 to £11.9bn at the end of December, which also constituted a drop of 4.5% since the same point last year, as it stated that "both markets and client sentiment became weaker as a result of the macroeconomic and political uncertainty".

Negative investment performance wiped almost £800m from funds under management, while a reduction in quarterly net inflows to £83m constituted an annualised rate of 2.6% of opening assets under management.

With profits set to fall in-line with previous forecasts but revenues facing "short-term pressure", the AIM traded company said it is looking to streamline the business to the tune of annualised savings of approximately £4m and make it easier for advisers to do business with the firm.

Caroline Connellan, chief executive of Brooks Macdonald, said: "The fundamental opportunity for our business remains strong. I am confident that the strength of our client and adviser relationships, coupled with the investment we are making in our offering, position us well to capture future growth. The efficiency measures that we recently announced combined with ongoing cost discipline will help deliver greater value from this opportunity."

Shore Capital said Brooks Macdonald's drop in assets under management was comparable to the 7.7% and 6.8% hits taken at respective competitors Brewin Dolphin and the Investment Management division of Rathbone Brothers and added that it did not recant its 11 January upgrade of the company to a 'buy' rating.

"One of the main reasons for our recommendation upgrade, in combination with the beaten-up share price, was that many of the issues that have impacted the investment case over the last couple of years now appear to largely in the past and the cost efficient announcement, while no doubt painful for the individuals being made redundant, are a sign that a relatively new management team can now start to look forward."

Brooks Macdonald's shares were down 3.47% at 1670p at 0908 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BRK Market Data

Currency UK Pounds
Share Price 1,895.00p
Change Today 10.00p
% Change 0.53 %
52 Week High 2,195.00p
52 Week Low 1,367.50p
Volume 1,792
Shares Issued 13.95m
Market Cap £264.40m
RiskGrade 119

BRK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.29% below the market average77.29% below the market average77.29% below the market average77.29% below the market average77.29% below the market average
82.19% below the sector average82.19% below the sector average82.19% below the sector average82.19% below the sector average82.19% below the sector average
Price Trend
50.92% above the market average50.92% above the market average50.92% above the market average50.92% above the market average50.92% above the market average
49.02% above the sector average49.02% above the sector average49.02% above the sector average49.02% above the sector average49.02% above the sector average
Income
19.77% below the market average19.77% below the market average19.77% below the market average19.77% below the market average19.77% below the market average
70.11% below the sector average70.11% below the sector average70.11% below the sector average70.11% below the sector average70.11% below the sector average
Growth
34.97% below the market average34.97% below the market average34.97% below the market average34.97% below the market average34.97% below the market average
69.35% below the sector average69.35% below the sector average69.35% below the sector average69.35% below the sector average69.35% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BRK Dividends

  Latest Previous
  Interim Final
Ex-Div 21-Mar-19 27-Sep-18
Paid 23-Apr-19 02-Nov-18
Amount 19.00p 30.00p

Trades for 22-Aug-2019

Time Volume / Share Price
15:59 1,573 @ 1,870.00p
16:04 200 @ 1,845.00p
14:40 1 @ 1,845.00p
12:30 470 @ 1,845.00p
12:03 750 @ 1,878.00p

BRK Key Personnel

Finance Director Simon Jackson
COO Jason Wood
Chair Alan Thomas Carruthers

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