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
-
Trouble brews in B&M as bargain shops take a hitOpinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in LondonThe US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
