Brewin Dolphin warns on tough market

6th Oct 2011 10:05

Brewin Dolphin, the independent investment manager has seen its advisory funds under management fall by 8.7% in its final quarter.Total funds under management are now at £24bn, a rise of 3.4% on the same period last year, including an 11.4% rise in discretionary funds.There has been a net inflow to Brewin of £100m while acquired funds have contributed £800m. Brewin says it aims to complete the previously announced disposal of its Corporate Advisory and Broking Division by the end of 2011.The firm admits that the "fourth quarter has seen difficult market conditions." Brewin's management statement was greeted positively by investors, with its shares up 2.46% in early trading.BS