Investment manager Brooks Macdonald Group has increased its funds under management (FUM) by 7.9 percent, from £11.9 billion to £12.8 billion in its third quarter ended 31 March 2019.

This is a year-on-year increase of 9.8 percent from £11.7 billion at 31 March 2018.

This outperformed the MSCI WMA Balanced Index, which increased by 6.9 percent over the three month period.

The firm stated that this result was driven by net new business of £166 million, an increase of 1.4 percent and investment performance of £773 million, a 6.5 percent increase.

Additionally, UK investment management added net flo...