Rathbone Brothers sees £2bn rise in managed funds
WEALTH management group Rathbone Brothers has seen a 13.4% increase in the funds under its management and has predicted that results will be in line with expectations.
The firm, which has offices in Birmingham and Liverpool, said in a Q4 trading update that as of December 31, 2012 the total funds under management were £17.98bn (2011: £15.85bn).
Rathbone’s said the figures compared to a 5.9% increase in the FTSE 100 Index and a 5.8% increase in the FTSE APCIMS Balanced Index over the same period.
The total annualised rate of net inflows of 6.2% (2011: 7.5%) in Rathbone Investment Management Ltd for the year ended December 31, 2012 includes acquired funds under management of £486m (2011: £305m).
The underlying annualised rate of net organic growth was 3.0% for the last year (2011: 5.4%).
Funds managed by Rathbone Unit Trust Management Ltd rose to £1.27bn at year end (2011: £1.09bn), an increase of 16.5%. Total net fund inflows amounted to £14m by the end of Q4 (2011: £35m) and £66m for the full year (2011: £97m).
In outlook, the firm said: “After a challenging 2012, UK equity markets ended the year on a more positive note. Rathbones looks forward to 2013 with more optimism, although markets do remain fragile as governments, particularly in the US, the UK and the Eurozone, battle with difficult economic and financial conditions.
“Rathbones continues to grow and consolidate its position as a leading provider of high-quality, personalised discretionary investment management services.”
The firm will issue its preliminary results for the year ended December 31, 2012 on February 20.
