Rathbone Bros sees rise in FuM

Wealth manager Rathbone Brothers has provided a solid quarterly trading update on Wednesday with funds under management (FuM) slightly up on the same period in the prior year.

Wealth manager Rathbone Brothers has provided a solid quarterly trading update on Wednesday with funds under management (FuM) slightly up on the same period in the prior year.

Total FuM for the nine months to September 30th were £17.35bn (2011: £15.05bn), with net operating income increasing to £116m (2011: £108.7m) for the period.

Underlying net operating income of £109.4m in Rathbone Investment Management for the nine months ended September 30th was 7.9% higher than 2011.

Net interest income of £7.6m in the first nine months of 2012 was in line with the same period in 2011. The company commented: "Pressure on interest margins is expected to continue into 2013".

"We expect markets to remain challenging for the remainder of 2012 reflecting a weak outlook for global growth and continuing nervousness over the future of the eurozone," said Chief Executive Officer Andy Pomfret.

"Despite this, we will continue to invest and grow as a leading provider of high-quality personalised discretionary investment management services in the post RDR world."

Shares were up 0.84% at 1,318p by 10:26 on Wednesday.

CM

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
5 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

House prices could fall 30%. Should investors be worried about a repeat of 2008?
Investments

House prices could fall 30%. Should investors be worried about a repeat of 2008?

Some analysts are predicting that house prices could fall as much as 30%, which, when compared to the fact that prices have jumped 28% since April 201…
24 Jan 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
27 Jan 2023
Council tax increases 2023 – how much more will you pay?
Tax

Council tax increases 2023 – how much more will you pay?

Your council tax bill will go up in April - we reveal the councils that have confirmed what this year’s increase will be.
23 Jan 2023