Rathbones sees double-digit rise in funds under management

Rathbone Unit Trust Management has reported a 13.9 per cent rise in funds under management.

Funds under management increased to £1.2bn at the end of September from £1.1bn at the end of 2011.

Parent group Rathbone Brothers reported a 9.5 per cent increase in total funds under management, increasing to £17.4bn.

However, the total annualised rate of net inflows slowed to 5.5 per cent, compared with 8.2 per cent in 2011, for Rathbone Investment Management.

Chief executive Andy Pomfret says: “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.

“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.”

Total net operating income increased by 6.7 per cent to £116m over the nine months to 30 September, compared with same period last year, where net income of £108.7m was reported.