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One of the Channel Island’s largest independent investment management companies is celebrating double-digit growth in funds under management (FUM).
Published as part of a trading update, the figures showed that Brooks Macdonald’s Jersey and Guernsey divisions had seen growth of 13% from £1.35billion to £1.53billion over the financial year.
That growth was underscored by success across the group as a whole. Brooks Macdonald added more than £2billion to discretionary FUM, culminating in a record of £10.5billion.
Darren Zaman (pictured), CEO, commented that the figures heralded a “strong year” for the international division.
“Having now completed the integration of the Channel Islands businesses with group processes and functions we are now very well placed to further drive forward Brooks Macdonald’s international growth strategy from our Channel Islands base,” he said.
The results come following the firm’s appointment as the investment manager of the Jersey-based Bond Fund, which is managed by R&H Fund Services. It offers investors a low initial investment of just £1,000 to access a corporate bond investment strategy.
It also follows the appointment of Jonathan Mynes as Head of Advisory Solutions, which the group hope will bolster its relationships with international financial advisers.
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