Second Quarter FUMA Update
Brooks Macdonald Group plc reported a positive second quarter for fiscal year 2026, with total funds under management and advice (FUMA) increasing by 3% to £20.1 billion, up from £19.6 billion at the end of the previous quarter. This growth was driven by strong investment performance contributing £0.5 billion and a return to positive net flows of £50 million, a significant improvement from the £151 million net outflow in the prior year's second quarter. Managed Portfolio Service (MPS) saw strong net inflows of £187 million, while Bespoke Portfolio Service (BPS) experienced reduced net outflows of £54 million.
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Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group") today announces flows and funds under management and advice ("FUMA") for the three months ended 31 December 2025 (the "quarter" or "Q2").
Andrea Montague, CEO of Brooks Macdonald, commented:
"I am delighted to announce a return to positive net flows in the quarter, highlighting the improving trend delivered in recent quarters, and strong investment performance lifting FUMA to £20.1 billion.
We are committed to building on this positive momentum as we execute our 'Reignite Growth' strategy."
Q2 2026 flows and FUMA
- Total FUMA increased by 3% to £20.1 billion (30 September 2025: £19.6 billion; 30 June 2025: £19.1 billion).
- Of this, total funds under management ("FUM") were £17.8 billion (30 September 2025: £17.2 billion) including Bespoke Portfolio Service ("BPS") of £8.9 billion, up 2% in the quarter, and Managed Portfolio Service ("MPS") of £7.8 billion, up 6% in the quarter.
- Total assets under advice were £5.3 billion (30 September 2025: £5.3 billion), of which £2.3 billion are Advised only assets.
- Net inflows of £50 million represent an improvement compared to the prior period (Q2 2025 net outflows of £151 million) and the first quarter of positive net flows since FY 2023.
- Net BPS outflows of £54 million improved by over 75% vs Q2 2025, principally driven by higher gross inflows into our Core BPS offering, as well as net inflows across our Gilts proposition.
- Platform MPS achieved another quarter of strong net inflows of £187 million, representing annualised growth rate of 12%. Net flows in Q2 benefited from continued strong demand for our MPS offering, including Brooks Macdonald Investment Solutions ("BMIS"), our business to business offering for financial advisers.
- Market and investment performance contributed £0.5 billion in the quarter.
Notice of Half-year 2026 results
Half-year results for the six months ended 31 December 2025 will be published on 24 February 2026.
| Advised only assets 6 | 2,425 | 2,320 |
| Total FUMA 4,7 | 19,612 | 20,106 |
Net flows by service for the quarters ended 31 December 2025 (Q2 26), 30 September 2025 (Q1 26) and 31 December 2024 (Q2 25) (£m)
| Gross inflows | Gross outflows | Organic net flows | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Q2 25 | Q1 26 | Q2 26 | Q2 25 | Q1 26 | Q2 26 | Q2 25 | Q1 26 | Q2 26 | |
| BPS | 166 | 145 | 345 | (398) | (302) | (399) | (232) | (157) | (54) |
| MPS Custody | 12 | 7 | 9 | (38) | (42) | (47) | (26) | (35) | (38) |
| MPS Platform 3 | 317 | 511 | 575 | (171) | (336) | (388) | 146 | 175 | 187 |
| Total MPS | 329 | 518 | 584 | (209) | (378) | (435) | 120 | 140 | 149 |
| Funds 4 | 83 | 30 | 31 | (123) | (62) | (76) | (39) | (32) | (45) |
| Total 5 | 578 | 693 | 960 | (729) | (742) | (910) | (151) | (49) | 50 |
Notes:
- FUM growth is defined as the change in FUM over the period as a percentage of opening FUM.
- MPS Platform includes BMIS, the Group's business to business offering for financial advisers.
- On 8 December 2025, two TM Brunsdon funds, managed by Brooks Macdonald Asset Management Limited ("BMAM") on behalf of Brunsdon Financial, were merged with two IFSL Magnus funds, and BMAM ceased to act as their investment manager. As at 30 September 2025, the Brunsdon funds held a combined £132 million of assets. This amount has been removed from the Group's opening FUM balance as of 1 October 2025, and earlier periods have been amended accordingly to reflect the funds' liquidation. Prior to their liquidation, net outflows across both funds in the quarter added to £0.1 million, which have also been excluded from the reported Funds net flows. Over the past four quarters, combined FUM across the two funds averaged £128 million, with combined average quarterly net outflows of £0.1 million.
- Total FUM includes £3.0 billion of assets (30 September 2025: £2.9 billion) that are both advised and managed by the Group and £1.6 billion of Direct Wealth assets (30 September 2025: £1.4 billion).
- Advised only assets are invested and managed by third parties and, as such, are excluded from assets under advice which are also invested and managed in a Brooks Macdonald proposition.
- Total FUMA includes £5.3 billion of assets under advice (30 September 2025: £5.3 billion).
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