Record quarterly inflows
Brewin makes ‘encouraging start’ to year
The FTSE 250-listed group, whose Edinburgh office is the biggest outside London, said it was an “encouraging start to the year” despite market volatility.
It said inflows had been strong from all channels, with total net discretionary inflows reaching £300m excluding transfers, representing 4.8% annualised growth.
Total funds grew by 3.8% to £33.2bn during the quarter, against £33.1bn in the corresponding period last time.
The rate of outflows from discretionary funds has stabilised, hitting £300m during the quarter.
David Nicol (pictured), chief executive, said: “We have made an encouraging start to the financial year. Continued net organic growth in funds, driven by increasing inflows into our core discretionary service, underlines the quality of the business despite the volatility in financial markets.
“We remain focused on our clear strategy to grow the business. Turbulent market conditions may persist for some time but our continued progress, strategic focus and financial strength all give us confidence in pursuing our long-term growth agenda.”