Acquisition pushes Rathbone's assets above 20bn pounds

Investment management group Rathbone Brothers grew assets under management 8.9 per cent in the first quarter, and they now stand above 20bn pounds for the first time.

Investment management group Rathbone Brothers grew assets under management 8.9 per cent in the first quarter, and they now stand above 20bn pounds for the first time.

Boosted by more positive investment markets and the purchase of Taylor Young's private client business, net funds under management in the investment management business grew £368m in the first quarter to March 31st to £19.6bn and by the end of the month had risen to £20.1m.

The growth in assets included acquired inflows of £208m in the first quarter, which included £129m from Taylor Young's private client business.

The remaining £160m of net organic growth in the investment management business represented annualised growth of 3.8%, up from 3.6% in the first three months of 2012.

Net operating income in the core investment management business of £41.6m was up 9.8% on the same period in 2012, which Rathbone noted was ahead of the 9.2% growth in the FTSE 100 index and the 8.8% growth in the FTSE APCIMS Balanced Index.

The non-core unit trust business saw funds under management grow 10.8% to £1.4bn in the quarter, with net inflows of £23m.

Chairman Mark Nicholls said Rathbone was well positioned to take advantage of healthier investment markets and future growth opportunities and the "outlook is positive".

Shares in Rathbone Brothers were down 0.6% at 1,490p at 09:21 on Tuesday.

OH

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020