Brewin Dolphin impressive growth despite ‘difficult’ market

British investment management and fund planning group Brewin Dolphin Holdings plc (LON: BRW) saw its funds and income increase despite what the Company described as difficult market conditions.

The Company stated that total funds were up 4.0% to £44.1 billion during the quarter, up from £42.4 billion at the end of Q2. Discretionary funds also rose because of good inflows and investment performance, growing 4.3% to £39.1 billion from £37.5 billion. Discretionary net inflows grew 3.2% on an annualised rate and MPS grew at an annualised rate of 25.0%.

Brewin Dolphin total income was up 3.7% tp £87.3 million; this was pushed by a 4.0% increase in discretionary income to £76.2 million and a 22.0% growth in financial planning to £7.2 million.

The Group added that it acquisitions of Investec Capital and Investments and the staff and assets of Epoch Wealth Management LLP were on track

Brewin Dolphin comments

David Nicol, Chief Executive said:

“Our total funds grew by 4.0% during the quarter to £44.1bn. We are pleased with the overall business performance, particularly the resilience of our discretionary net inflows of £0.3bn in the quarter in challenging economic and market conditions. In this context, we are confident in our business model, strategy and long-term growth prospects, which are underpinned by our focused investment in the UK and Ireland, combined with continued operational discipline”.

Investor notes

The Company’s shares rallied 0.83% or 2.60p to 317.6p a share 25/07/19 15:58 BST. Peel Hunt, Liberum Capital and Shore Capital analysts all reiterated their respective ‘Buy’ stances on Brewin Dolphin stock. The Company’s p/e ratio stands at 14.00 and it has a dividend yield of 5.15%.

Elsewhere in asset and investment management, there have been updates from; Hansard Global plc (LON: HSD), AJ Bell PLC (LON: AJB), Intermediate Capital Group plc (LON: ICP), Highcroft Investments plc (LON: HCFT) and City of London Investment Group PLC (LON: CLIG).


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Senior Journalist at the UK Investor Magazine. Also a contributing writer at the Investment Observer, UK Property Journal and UK Startup Magazine. Postgraduate of King's College London with a specialisation in Business Ethics. Interested in Development Economics and David Hume.