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Rathbone Bros reports strong growth in FUM
Wealth manager Rathbone Brothers reported "robust" growth in funds under management as total 2017 net inflows increased to £2.1bn from £1.7bn.
Total funds under management at year end were £39.1bn, up 14.3%. Funds under management in investment management rose 11.9% to £33.8bn, Rathbone said.
Total net inflows in investment management (organic and acquired) for the fourth quarter were down slightly at £290m from £292m. The total for the year was flat at £1.2bn.
The underlying annualised rate of net organic growth in funds under management in investment management for the final quarter was 3.1% against 2.9% in the same period in 2016 and 3% for the year (2016: 2.9%).
Funds managed by unit trusts reached a record £5.3bn for the year, up 32.5%. Total net fund inflows totalled more than doubled to £272m in the fourth quarter year-on-year and rose to £883m for the full year from £554m.