The funds under management were at their highest reported to date, according to the firm’s latest trading update.

The increase in funds under management were down to strong investment performance, improving net flow and the completion of the acquisition of Lloyds Bank’s Channel Islands wealth management and funds business.

Net flows improved over the half year, with the second quarter “materially better” than the first. However, net flows were varied across the business.

For the UK investment management business, MPS net flows turned positive with organic net new business of 2.3% whereas BPS saw outflows of 0.5%.

UK investment management funds saw net outflows, largely due to the Defensive Capital Fund which had net outflows of 13.5%.

Revenue, underlying profit and the underlying profit margin were also all ahead of the same period last year.

The firm said its momentum is building and it is on track to achieve full-year expectations.

Health year investment performance was up 9.5%, in comparison to a 6.5% rise in the MSCI PIMFA Private Investor Balanced Index.

Caroline Connellan, CEO of Brooks Macdonald, said: “I am proud of what our people have delivered in the past six months in exceptionally difficult circumstances, with the second quarter particularly encouraging as we reached a record £15.5 billion in FUM.  Over the period we built momentum in net flows, delivered strong investment performance, and completed the acquisition of Lloyds’ Channel Islands wealth management and funds business.

“The work we have put in over recent years has made Brooks Macdonald a robust business, demonstrated by our strong commercial performance and strategic progress.  We are excited about the opportunity we have to continue to make a difference for clients and intermediaries, while also delivering for the group’s shareholders.”