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25 Jul 2018 | 09:43

Brewin Dolphin funds grow 6.5% as income hits record in Q3

Wealth manager Brewin Dolphin Wednesday reported funds increased 6.5% in the third quarter of the year and total income rose to a record amid continued 'strong' organic growth in discretionary funds.

For the six months to 30 June, total funds increased by 6.5% to £42.3bn, and total income rose 8.9% to £84.2m.

The wealth manager revealed that it saw £0.7bn increase in net discretionary funds inflow in the third quarter of the year.

Core income grew 11.2% to £82.2.3m from £73.9m in the year ago period, driven by strong year on year growth in core funds.

Total fee income rose 7.6% to £59.2m from £55.0, while total commission income rose to £18.3m from £16.7m amid increases in transaction levels.

'We are particularly pleased to have achieved another period of strong discretionary funds inflows which, combined with positive investment returns, has driven total income to a record £84.2 million for the quarter,' the company said. Story provided by StockMarketWire.com
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