Rathbones’ unit trusts see assets rise by 8.3%

The amount of money ran by Rathbone Unit Trust Management increased by 8.3% over the opening quarter of the year.

According to the group’s interim management statement, funds under management (FUM) in unit trusts reached £1.18 billion during the three months ending March 31. This is up from £1.09 billion at the end of the previous quarter.

Over the first quarter, Rathbone’s unit trust business won £79m in sales, which were partially offset by redemptions of £49m to give net inflows of £30m. Market performance contributed £65m to the rise in FUM.

The amount of money run by Rathbone Brothers’ investment management business reached £15.6 billion in the first quarter. This takes total FUM for the whole group to £16.81 billion, increasing 6.1% from £15.85 billion seen at the end of 2011.

Mark Nicholls, chairman of Rathbones, will say at the annual general meeting today: “We are continuing to invest in people and systems to improve our service and efficiency and to respond to regulatory change. (article continues below)

“Whilst investment markets are expected to remain uncertain, Rathbones is as well placed as ever to develop future growth opportunities.”