Rathbones sees uncertainty continuing
INVESTMENT manager Rathbone Brothers, which has its largest base in Liverpool with around 380 people, says it has performed resiliently in a time of market uncertainty.
The firm, which has its roots in Liverpool, but is now run out of London, said total funds under management were down 3.2% at the end of September at £15.1bn, compared with £15.6bn at the end of December 2010.
This compares favourably to the FTSE 100 Index, which fell 13.1% in the same period, and a decrease of 8.2% in the FTSE APCIMS Balanced Index.
On a more positive note, the firm said it had attracted more than £280m in net new funds in the third quarter.
Chief executive, Andy Pomfret, said: “”Rathbones’ tailored and flexible approach to investment management continues to be attractive to clients in spite of the considerable market uncertainties.
“The total net inflow of funds under management in Rathbone Investment Management was £284m (7.4% on an annualised basis) in the three months ended 30 September 2011.
“We expect markets to remain nervous for the remainder of 2011 as inflation expectations and European sovereign debt uncertainties continue to dominate the headlines.
“Despite this our brand and commitment to client service continue to position us well to grow as a leading provider of high-quality personalised discretionary investment services.”
Rathbones has recently upped its office space at the Port of Liverpool Building, adding 10,300sq ft to its existing 55,000 sq ft.
