Rathbone Brothers post 13 per cent increase in AUM
Total funds under management rose 13.4 per cent year-on-year at wealth and discretionary management provider Rathbone Brothers in the year to December 31st, according to a trading update published on Thursday.
Total funds under management rose 13.4 per cent year-on-year at wealth and discretionary management provider Rathbone Brothers in the year to December 31st, according to a trading update published on Thursday.
Total funds under management were £17.98 bn at the end of 2012, compared to £15.85bn a year earlier.
The total annualised rate of net inflows in Rathbone Investment Management was 6.2% compared to 7.5% a year earlier. The year's inflows included acquired funds under management of £486m, compared to £305m in 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Funds managed by Rathbone Unit Trust Management Limited rose to £1.27bn from £1.09bn a year earlier, an increase of 16.5%.
Total net fund inflows totalled £14m in the fourth quarter of 2012 and £66m for the full year compared to £97m in 2011.
The trading statement issued by Rathbone revealed an optimistic approach for the year ahead: "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."
The group plans to issue its preliminary statement of annual result for 2012 on February 20th and stated that its results were anticipated to be "in line with expectations".
MF
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published