Brooks Macdonald blames Budget speculation for poor performance Investing Wealth manager Brooks Macdonald has blamed uncertainty around the upcoming Budget for investors pulling £100m from its business over the last three months. In a quarterly trading update today, the London-listed money manager revealed that investors had pulled a total of 0.7 per cent of their assets over the most recent quarter, thanks to a [...]
Brooks Macdonald buys financial advisor amid takeover rumours Investing Brooks Macdonald has bought independent financial advisor LIFT in a deal worth up to £45m, as takeover rumours swirl around the group. LIFT has £1.6bn in assets under advice, with £600m of this being funds under management. The firm is headquartered in Greater Manchester, with offices in London and Edinburgh, and has around 1,400 clients, [...]
Brooks Macdonald pledges ‘simpler’ business as it offloads international arm for £50m Investing Money manager Brooks Macdonald has said it would simplify its business and “reignite growth” as it offloaded its international arm to Canaccord Genuity for £50m. In its annual results for the year to June 2024, the London-listed wealth management outfit said its funds under management had risen seven per cent to £18bn despite shedding some [...]
RM Funds poaches Brooks Macdonald fund mandate September 5, 2024 RM Funds, best known for its shareholding in embattled investment trust Home REIT, has won the mandate for the £146.6m Brooks Macdonald Defensive Capital fund. The Defensive Capital fund, which will be renamed as the RM Defence Capital fund, was launched in 2010. It is built as an all-weather return fund with low volatility through [...]
Will private equity set its sights on AJ Bell, M&G or River Global after the Hargreaves Lansdown takeover? August 9, 2024 The takeover battle for Hargreaves Lansdown seemed to have finally reached a resolution this morning, and within hours of the details being announced, analysts were already speculating as to which London-listed asset manager could be next to fall to private equity. Ben Bathurst, analyst at RBC, said today that the planned investment by the private [...]
Brooks Macdonald faces continued outflows as takeover rumours swirl July 17, 2024 Brooks Macdonald investors pulled £154m from the asset manager over the last three months, despite analyst expectations of net inflows, as the company struggles with rumours of a potential takeover attempt.
Brooks Macdonald outflows surge to £300m as cost-cutting pays off April 17, 2024 Investors in Brooks Macdonald pulled £300m from the asset manager's funds last quarter, much higher than previous months.
Ruffer eyes job cuts as ‘down year’ hits hard April 14, 2024 Asset managers have cut around 2,000 jobs since the start of 2024.
Brooks Macdonald: Wealth manager puts ‘behind plan’ international arm under review March 7, 2024 Wealth manager Brooks Macdonald said the decision was being made "in the interests of achieving the best return for shareholders".