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Rathbones funds under management rise 7% in 2015

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Funds under management at Rathbones rose by 7.4 per cent to £29.2bn in 2015, while underlying pre-tax profit jumped 14.3 per cent to hit £70.4m.

In its annual results the asset manager also reported the total net growth rate of funds under management was 5.7 per cent, a steep fall from 2014’s 19.6 per cent.

In addition, the underlying rate of net organic growth at the FTSE 250 firm was 3 per cent in 2015, down from 4 per cent during the previous 12 months.

The unit trust business saw gross sales of £900m in 2015, down from £1bn in 2014, while funds under management increased by 24 per cent to £3.1bn.

Rathbone Brothers chairman Mark Nicholls describes 2015 as a “strong year” for the business, despite the backdrop of subdued markets.

He says: “During the year we took the opportunity to raise £20m of long term subordinated loan notes to support our future growth and we have continued to pursue acquisition opportunities which will increase shareholder value.”

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