Brooks Macdonald has delivered another quarter of sustained net inflows in Q1 resulting in +5% growth in Discretionary FuM. Organic net inflow performance was strong with £376m equating to 14.4% annualised growth. Brooks offers 16% EPS CAGR with the ability to gather material new FuM to drive earnings growth. With 15.8x Jun-18 PER, the shares are not priced at a premium and given growth we believe that this offers good value. We reiterate our BUY recommendation with a 2655p 12m Target Price (17x ....
24 Oct 2017
N+1 Singer - Brooks Macdonald Group - FuM +5% in Q1, impressive and sustained net inflow performance
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N+1 Singer - Brooks Macdonald Group - FuM +5% in Q1, impressive and sustained net inflow performance
Brooks Macdonald Group plc (BRK:LON) | 1,798 404.4 1.3% | Mkt Cap: 295.6m
- Published:
24 Oct 2017 -
Author:
Andrew Watson -
Pages:
3
Brooks Macdonald has delivered another quarter of sustained net inflows in Q1 resulting in +5% growth in Discretionary FuM. Organic net inflow performance was strong with £376m equating to 14.4% annualised growth. Brooks offers 16% EPS CAGR with the ability to gather material new FuM to drive earnings growth. With 15.8x Jun-18 PER, the shares are not priced at a premium and given growth we believe that this offers good value. We reiterate our BUY recommendation with a 2655p 12m Target Price (17x ....