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Rathbones sees fund inflows double

Rathbone Unit Trust Management’s assets under management have risen to £1.44bn after the firm saw net inflows more than double over the opening half of 2013.

Rathbone Brothers’ latest financial results show that its funds business captured £67m between the beginning of the year and 30 June – up 109 per cent on the £32m recorded for the same period of 2012.

Funds under management in its unit trusts rose 13.4 per cent from £1.27bn at the start of the year to £1.44bn at the end of June.

Meanwhile, discretionary business Rathbone Investment Management experienced total net growth in funds under -management of £780m in the first six months of 2013.

Overall, Rathbone Brothers’ total funds under management were up 10.6 per cent in the six-month period, moving from £18bn at the start of the year to £19.9bn. This has since passed the £20bn mark.

Rathbone Brothers chief executive Andy Pomfret says: “In the first half of 2013, continued growth in funds under management and positive investment markets have helped to grow Rathbones’ profit before tax by 17.2 per cent to £23.2m. Rathbones’ outlook remains positive.”

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