Brooks Macdonald’s assets under management flatlined in the second half of 2019, as investment outperformance was offset by “softer client sentiment” and the loss of a large mandate.
BM managed £13.09 billion at 31 December 2019, down 0.4 percent on the £13.15 billion it managed midway through the year (30 June).
Its £10.1 billion discretionary business – comprising the model portfolio service and bespoke portfolio service – had net outflows of £235 million, offset by positive investment performance of £363 million.
“Net flows in this part of the business were broadly in line with expectations...