Brewin Dolphin Says ‘Difficult’ Market Conditions May Continue
Brewin Dolphin Holdings Plc (BRW), a U.K. stockbroker and fund manager, said it’s expecting tough market conditions to continue after reporting a 3.4 percent rise in funds under management.
Total managed funds rose to 24 billion pounds ($37 billion) as of Sept. 30 from 23.2 billion pounds at about the same period a year ago, Brewin Dolphin said in a statement today. The fourth quarter has “seen difficult market conditions,” it said.
London-based Brewin Dolphin joins fund managers including Aberdeen Asset Management Plc, which said last month that funds under management dropped 4.8 percent in July and August as the global stock market rout depressed asset values.
Brewin Dolphin rose 3 pence to 114.1 pence at 8:37 a.m. in London trading today.
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