Brooks Macdonald International, which has offices in Guernsey and Jersey, grew its funds under management (FUM) by 3.9% over the prior quarter to more than £1.6bn, according to figures published this week by the Brooks Macdonald Group for the period ending 30 September 2020.
The group said the strong performance was driven by positive net flows combined with good investment performance. It also reflected the continued reinvigoration of the International business as well as the Channel Islands’ emergence from lockdown.
A further £1bn of FUM is still expected from the acquisition of Lloyds’ Channel Islands wealth management and funds business, expected to complete later this year.
Overall, the figures show that total group FUM at the end of September was £13.7bn.
Andrew Shepherd (pictured), CEO of Brooks Macdonald International, commented: "The first quarter of our financial year has been extremely positive for the International business and I am pleased with the investment performance we have provided our clients over the period.
"We continue to focus on reinvigorating the business in the Channel Islands, including through our Lloyds acquisition, which will add further to these strong figures.”
• To view the full quarterly announcement click here