Brooks Macdonald to move off AIM as firm eyes further growth
Brooks Macdonald is set to ditch AIM for the London Stock Exchange’s main market as the asset manager looks to enhance its profile and drive growth.
In a trading update, the asset manager said that the move would enhance its “corporate profile,” as well as extend the “opportunity to own its ordinary shares to a broader group of investors”.
The transition, which is not subject to shareholder approval, is expected to take place in March.
Brooks Macdonald also reported that the quarter had been its strongest for gross inflows in the last year and a half, despite net inflows coming in slightly weaker than forecast by analysts.
Gross inflows over the three months to 31 December were £579m. Gross outflows came in at £730m.
Net outflows totalled £151m and investment performance added £200m. Funds under management ended the period at £17.9bn.
City AM revealed today that Brooks Macdonald had made various layoffs among its senior staff in recent months, including its global head of distribution, global head of marketing, and head of public relations.
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