BREWIN DOLPHIN HOLDI

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Brewin Dolphin draws in record fund inflows

11/25/2021 | 01:21am

SHARES in Brewin Dolphin plunged seven per cent yesterday after the wealth manager warned of market volatility ahead.

In the near-term, however, inflows swelled to the highest total on record in 2021, buoyed by a combination of positive net flows and strong investment performance.

The London-listed firm drew in a record £4bn of discretionary inflows in the year to the end of September, compared to £2.8bn in the previous year.

Total funds rose 19.5 per cent during the year to £56.9bn, and total discretionary funds jumped 20.9 per cent to £49.8bn.

Looking ahead, the group said operating costs are expected to grow mid to high single digit per cent, due to a combination of wage inflation and technology investment.

"From a client perspective, inflation around the corner is our friend," CEO Robin Beer told City A.M."But from a corporate perspective, higher wage inflation means we need to compete."

(c) 2021 City A.M., source Newspaper

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