Brooks Macdonald Group, the AIM-listed investment management group with offices in Scotland, posted a positive update for the last financial year.
Positive net flows and investment performance over the full year to 30 June led to a new record discretionary funds under management of £13.2 billion, an increase of 6.8% over the year from £12.7 billion.
Net new business was broadly flat at £2 million over the quarter while UK net flows were £32 million (+0.3%) in the quarter.
Chief executive Caroline Connellan said: "I am pleased to report record discretionary FUM at the year end of £13.2 billion.
"We have generated positive net new business over the year and delivered strong investment performance, despite extremely low net flows across the industry and continuing macroeconomic and political uncertainty.
“We have taken decisive steps to streamline our business, drive increased efficiency and effectiveness, and reinforce the foundations of the organisation.
"This has helped us deal with the current challenging environment and positions us well to continue to deliver benefits for both clients and shareholders.”
