Fourth Quarter FUMA Update
Q4 net outflows of £5m, best quarterly performance in two years; total FUMA reached £19.2bn.
vs expectations: in line with market expectations
- Total FUMA £19.2 billion (prior £18.6 billion)
- Total FUM £16.6 billion (prior £16.0 billion)
- Q4 net outflows £5 million (prior £129 million (Q3))
- MPS Platform net inflows £165 million
- BPS net outflows £104 million (prior £211 million (Q3))
- Market and investment performance (FY) £0.7 billion
Select text to share a quote on X · sign in to keep highlights & notes in your BRK notes
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group") today announces flows and funds under management and advice ("FUMA") for the three months ("quarter" or "Q4") and the year ended 30 June 2025.
Andrea Montague, CEO of Brooks Macdonald, commented:
"Today, we reported our best quarterly net flow performance in two years and a significant sequential quarterly improvement.
Our focus remains firmly on executing, at pace, against our strategy. In June, we launched a new suite of Retirement Strategies that deliver greater income security and growth for clients in their retirement. This builds on the recent launch of our Global MPS proposition.
We continue to deliver high quality service to our clients alongside strong long-term investment performance, which provides a solid foundation for future growth."
Q4 and FY 2025 flows and FUMA
- Total FUMA increased to £19.2 billion (31 March 2025: £18.6 billion, 31 December 2024: £17.4 billion, 30 June 2024: £16.4 billion).
- Of this, total funds under management ("FUM") were £16.6 billion (31 March 2025: £16.0 billion).
- Advised only assets were £2.6 billion (31 March 2025: £2.5 billion).
- Q4 net outflows of £5 million represent a significant improvement versus Q3 net outflows of £129 million and the best quarterly performance in two years.
- Net outflows across our Bespoke Portfolio Service ("BPS") of £104 million were 51% lower compared to the previous quarter (Q3 2025: net outflows £211 million), driven by lower Core BPS outflows, and higher Gilts inflows.
- Our Platform Managed Portfolio Service ("MPS") saw strong net inflows of £165 million, bringing annualised growth for the full year to 14%.
- The Group delivered a marked improvement in net flows in the second half of the financial year (H2 2025 net outflows £0.1 billion, H1 2025 net outflows £0.3 billion), supported by the actions taken earlier in the year to reignite growth, including increased and more systematic client engagement and the recent acquisitions.
- Market and investment performance contributed £0.6 billion in the quarter and £0.7 billion for the full year.
Outlook and notice of full-year 2025 results
- The Board anticipates the full year performance to be in line with market expectations.
- Results for the year ended 30 June 2025 will be announced on 4 September 2025.
| Advised only assets [6] | 2,545 | 2,577 |
| Total FUMA | 18,589 | 19,202 |
Net flows by service for the year ended 30 June 2025 [1] (£m)
| Opening assets 1 Jul 24 | Gross inflows | Gross outflows | Net flows | Acquired | Market and investment performance | Closing assets 30 Jun 25 | Net flows growth [2] | FUM growth [3] | |
|---|---|---|---|---|---|---|---|---|---|
| BPS | 8,880 | 649 | (1,372) | (723) | - | 371 | 8,528 | (8.1)% | (4.0)% |
| MPS Custody | 974 | 48 | (157) | (109) | - | 41 | 906 | (11.2)% | (7.0)% |
| MPS Platform [4] | 4,367 | 1,682 | (1,081) | 601 | 788 | 227 | 5,983 | 13.8% | 37.0% |
| Total MPS | 5,341 | 1,730 | (1,238) | 492 | 788 | 268 | 6,889 | 9.2% | 29.0% |
| Funds | 1,323 | 210 | (375) | (165) | - | 50 | 1,208 | (12.5)% | (8.7)% |
| Total FUM [5] | 15,544 | 2,589 | (2,985) | (396) | 788 | 689 | 16,625 | (2.5)% | 7.0% |
| Advised only assets 6] | 826 | 1,751 | 2,577 | ||||||
| Total FUMA | 16,370 | 2,539 | 19,202 |
Net flows by service for the four quarters ended 30 June 2025 [1] (£m)
| Opening assets 1 Jul 24 | Organic net flows | Acquired | Market and investment performance | Closing assets 30 Jun 25 | ||||
|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | |||||
| BPS | 8,880 | (176) | (232) | (211) | (104) | - | 371 | 8,528 |
| MPS Custody | 974 | (26) | (26) | (27) | (30) | - | 41 | 906 |
| MPS Platform [4] | 4,367 | 142 | 146 | 148 | 165 | 788 | 227 | 5,983 |
| Total MPS | 5,341 | 116 | 120 | 121 | 135 | 788 | 268 | 6,889 |
| Funds | 1,323 | (51) | (39) | (39) | (36) | - | 50 | 1,208 |
| Total FUM [5] | 15,544 | (111) | (151) | (129) | (5) | 788 | 689 | 16,625 |
| Advised only assets [6] | 826 | 1,751 | 2,577 | |||||
| Total FUMA | 16,370 | 2,539 | 19,202 |
Notes:
[1] All FUM numbers exclude Brooks Macdonald International ("BMI") and the Defensive Capital Fund ("DCF"). The sale of BMI to Canaccord Wealth Genuity completed in February 2025 at which point attributable FUM totalled £2,272 million. The transfer of the investment management of DCF to RM Capital Markets Limited completed in November 2024 at which point attributable FUM totalled £133.5 million.
[2] The net flows growth is defined as annualised/annual net flows as a percentage of opening FUM, for the relevant period.
[3] FUM growth is defined as the change in FUM over the period as a percentage of opening FUM.
[4] MPS Platform includes Brooks Macdonald Investment Solutions, the Group's business to business offering for financial advisers, and the three recently acquired businesses.
[5] Total FUM includes £2.6 billion of assets (31 March 2025: £2.6 billion) that are both advised and managed by the Group.
[6] Advised only assets excludes assets under advice which are also invested and managed in a BM proposition.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.