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Wealth manager Brooks Macdonald reported an increase funds under Management in the fourth quarter of the year, driven by both 'strong' investment performance and a return to positive net flows/.
For the quarter ended 30 June, funds under management rose to a record £16.5 billion, up from 5.3% billion in the March quarter, and an increase of 20.3% compared to the FY20 close of £13.7 billion.
Investment performance added £0.7 billion to FuM, while a return to positive net flows added £0.1 billion, as per previous guidance, the company said.
'The group anticipates a full year result in line with market expectations and previous guidance,' it added.