Brewin Dolphin managed assets up 2 pct in June quarter

LONDON, July 23 Wed Jul 23, 2014 2:23am EDT

LONDON, July 23 (Reuters) - UK investment management group Brewin Dolphin said net new managed funds rose 2 percent to 29.3 billion pounds ($50.01 billion) in the June quarter as portfolio gains negated a net 400 million pounds of outflows.

Core fee and commission income of 67 million pounds was 5 percent higher than the same period last year, the company said in a statement on Wednesday.

The company said it continued to make progress against its strategic targets, with net external organic funds into its core discretionary service in line with its 5 percent annual target.

"The outlook remains positive as the transformation and growth strategy for the business is implemented," it said in the statement. ($1 = 0.5859 British Pounds) (Reporting by Nishant Kumar; editing by Simon Jessop)

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