Rathbones sees assets fall
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Assets have fallen from £1.5bn to £1.2bn from June 30 to September 30, 2008, while total funds under management fell from £10.5bn to £9.9bn, a fall of 5.7 per cent over the same timeframe.
Rathbone Brothers chairman Mark Powell says: “The turmoil in world stock markets created by the crisis of confidence in the Banking Sector has had an inevitable impact on our recent financial performance. It is however attracting further funds to Rathbones which is increasingly recognised as an independent provider of quality investment management and wealth management services. In the first nine months of this year, Rathbone Investment Management achieved a net organic inflow of funds under management of 7.1 per cent.
“Rathbones has a strong balance sheet with minimal borrowings and does not make use of the wholesale market to fund its operations.”
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