The Channel Islands subsidiary of independent investment manager Brooks Macdonald achieved double digit growth and saw discretionary funds under management (FUM) rise by 10 per cent over the second half of 2016.
Brooks Macdonald’s international division, which includes the firm’s Guernsey and Jersey offices, saw its FUM grow from GBP1.35 billion to GBP1.49 billion over the six months to 31 December 2016.
In addition, the Channel Islands division of the business saw its profits rise over the same period by more than a fifth (21 per cent), from GBP0.517 million to GBP0.628 million.
Brooks Macdonald Group as a whole added over GBP1 billion in discretionary FUM during the half year and achieved organic growth of GBP332m or 4 per cent over the half year.
Last year Brooks Macdonald celebrated its 25th anniversary, with the Channel Islands business playing a key role in securing the firm’s first international strategic alliance with Abacus Financial Consultants, an independent financial advisory firm based in Dubai. Brooks Macdonald’s Channel Islands offices are responsible for spearheading the firm’s international strategy, acting as its expert discretionary investment management hub for trustees, professional advisers, private clients and charities across Europe, South Africa and the Middle East.
Darren Zaman (pictured), CEO, international, Brooks Macdonald, says: “These figures reflect a strong six months for the group as a whole, including our international division in the Channel Islands. The growth we’ve achieved here in our Channel Islands offices in terms of both funds under management and profit underlines the success we are having in driving Brooks Macdonald’s international growth strategy. We fully intend to continue to expand our specialist investment management capabilities across the Channel Islands in the coming months and years.”
