July 23, 2020 / 6:35 AM / 14 days ago

Brewin hails improved investment performance, robust inflows for funds boost

LONDON (Reuters) - Brewin Dolphin (BRW.L) booked a 12.8% rise in total funds to 46.7 billion pounds in the three months to end-June, driven by total net inflows of 400 million pounds and a rally in investment returns, the wealth manager said on Thursday.

The net inflows in its fiscal third quarter reflected an annualised growth rate of 4.5% and helped to push total discretionary income up by 3.8% to 79.1 million pounds, thanks to higher commissions.

Total income for the quarter came in at 92.7 million, an increase of 6.2% year on year.

“We continue to deliver resilient results despite the challenges the COVID-19 pandemic have imposed on our business in supporting our clients and colleagues,” Chief Executive Robin Beer said.

Brewin said it continued to review its office operations in light of the virus and has re-opened a number of small offices on a controlled basis, with larger workplaces expected to take longer to re-open.

Reporting By Sinead Cruise, Editing by Maiya Keidan

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