Rathbones assets up 24% in 2015 but inflows drop

UK-Currency-Money-Coin-Pounds-GBP-700x450Rathbone Unit Trust Management saw a 24 per cent jump in funds under management in 2015, despite inflows dropping during the year.

In a trading update for the three months ended 31 December, funds under management in the business were £3.1bn, up from £2.5bn a year earlier.

However, inflows for the full year dropped to £371m down from £554m in 2014. While the year saw lower inflows, the final quarter of last year saw inflows up to £165m from £115m in the same quarter in 2014.

Funds managed by Rathbones Investment Management were up 5.7 per cent to £26.1bn at 31 December 2015 from £24.7bn a year ago.

However, total net inflows into the unit were £368m in the fourth quarter, and £1.4bn for full year 2015, falling from £4bn the previous year.

The company said the drop in inflows was due to accounting for the acquisition of Jupiter Asset Management’s private client and charity investment business in the 2014 inflows.

Rathbones also confirmed it completed the purchase of the remaining 80.1 per cent of the issued share capital of Vision Independent Financial Planning and Castle Investment Solutions by the end of the last quarter.

Total funds under management for the group at 31 December 2015 was £29.2bn, up 5.8 per cent from £27.6bn at 30 September, and up 7.4 per cent from £27.2bn at 31 December 2014.

In the trading update Rathbones says: “We continue to pursue our growth objectives but will more frequently review the timing and priority of projects as long as financial markets remain subdued.”