Brewin Dolphin 'comfortably ahead'

1st Oct 2010 07:36

Brewin Dolphin's commission income during the fourth quarter is almost as high as the "very strong levels" reported a year ago, according to the stockbroker and investment manager.Fee income won't be known until next Tuesday when the company has its quarterly fee run, but the increase in funds under management in real terms "has been strong".Discretionary funds grew 10.8% in real terms, "comfortably ahead of the boards' stated aim of growing discretionary funds by more than 5% p.a. in real terms".They were £14bn as at 26 September, up 8% since the end of June and 19% higher than a year ago.Increases of 7% and 6% respectively in advisory funds under management took total managed funds to £23.2bn, 7% more than in June and 13% higher than September 2009. "The board is looking forward to 2011 with confidence," it said.