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Rathbones releases trading update

Richard Dawson

[R]athbones has released a trading update on the company’s performance for the three months ended 31 December 2017.

Richard Dawson, Regional Director for Rathbones’ Kendal office commented on the update:
“Growth in funds under management was robust, reflecting both favourable investment markets and continued growth in the business.”

  • Total funds under management at 31 December 2017 were £39.1 billion, up 14.3% from £34.2 billion at 31 December 2016. Total net inflows across the group for the year were £2.1 billion (2016: £1.7 billion) which represents 6.0% (2016: 6.0%) of opening funds under management. The FTSE 100 Index increased 7.6% and the MSCI WMA Private Investor Balanced Index increased 7.2% over the same period.
  • Funds under management in Investment Management were £33.8 billion at 31 December 2017, up 11.9% from £30.2 billion at 31 December 2016. Total net inflows in Investment Management (organic and acquired) for the fourth quarter were £290 million (Q4 2016: £292 million). The total for the year was £1.2 billion (2016: £1.2 billion). The underlying annualised rate of net organic growth in funds under management in Investment Management for the three months ended 31 December 2017 was 3.1% (2016: 2.9%) and 3.0% for the year ended 31 December 2017 (2016: 2.9%).
  • Funds managed by Unit Trusts reached a record £5.3 billion at 31 December 2017, up 32.5% from £4.0 billion at 31 December 2016. Total net fund inflows totalled £272 million in the fourth quarter of 2017 (Q4 2016: £125 million) and were £883 million for the full year (2016: £554 million).

Established in 1742, Rathbones Brothers PLC is one of the UK’s largest and longest established wealth management firms. With several offices in the North West of England, Rathbones is renowned for offering each of its clients a bespoke, personal service and for providing high-quality, personalised investment and wealth management services for private clients, charities and trustees. Its services include discretionary investment management, unit trusts, banking and loan services, financial planning, unitised portfolio services, and UK trust, legal, estate and tax advice.

The Rathbones Kendal office, located in The Stables, Levens Hall, employs seven people and manages close to £350 million of assets.

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