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Gloucestershire Business News

Brewin Dolphin hits record funds figure

Investment management firm Brewin Dolphin saw the amount of fund inflows hit a record £1billion for the first three months of the year.

The firm, which has a base in Cheltenham, said the record discretionary fund inflows helped contributed to an income growth of 13.7 per cent in the first half of the year.

Total funds increased by 10.5 per cent on the same three months a year ago to £52.6billion with total discretionary funds up 10.9 per cent to £45.7billion.

The interim report for the six months to March 31 put total income at £199.9million - up 13.7 per cent on 12 months ago - with statutory pre-tax profit of £40.7million, a rise of 44.3 per cent.

Chief executive Robin Beer said: "We delivered an excellent set of results driven by record fund inflows in Q2 and the outperformance of our clients' investments during a strong market recovery.

"The consistency of our inflow performance throughout the pandemic demonstrates we have a resilient business model, a trusted brand and our advice-focused strategy is the right one."

He continued: "The implementation of our custody and settlement system in the autumn remains on track, which will enable greater efficiencies and support our growth ambitions.

"Our strong financial momentum and the good progress made on our strategic priorities in the first half of the year gives me confidence for the remainder of the year."

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