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Brewin Dolphin Q3 Total Income Up 12%

Brewin Dolphin Holdings plc (BRW.L) reported a 12% growth in Q3 total income, driven by higher market performance and strong fund net flows.

Total income increased 12% to £103.8 million from £92.7 million in the prior year period. Year to date total income was £303.7 million, an increase of 13.1% year on year.

Total funds grew by 6.5% to £56.0 billion in the quarter versus £52.6 billion reported in the second quarter of 2021. Discretionary funds were up 6.6% to £48.7 billion compared to the prior quarter's £45.7 billion, supported by continued strong net flows and improved investment performance of 5.0% in the quarter.

Total discretionary income rose by 8.3% to £85.7 million compared to £79.1 million in the prior year period. Year to date total discretionary income grew by 11.5% to £255.0 million.

Robin Beer, Chief Executive said, "We are very pleased to announce a second consecutive quarter of record gross discretionary fund inflows of £1.3bn, of which over 70% were from new clients1. Strong fund inflows were seen across both our direct and indirect businesses, with Ireland having an exceptional quarter and our Voyager fund range continuing to scale at pace. We are in the final stages of implementing our custody and settlement system and remain on track for it to go live in our environment in the Autumn..."

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