Commenting in the group’s interim management statement CEO, Philip Howell, said the 10% growth to £26.3bn in total FUM came in spite of relatively flat investment markets during the period on the back of both continued organic growth and the successful completion of the Jupiter acquisition, which added £1.9bn in FUM.
According to the group, total net inflows into Rathbone Investment Management over the period came in at £2.4bn. That figure, it said, included £2.1bn in total acquired new business. Organic new business grew over the period to £664m from £502m in the 2013 comparable period. But, inflows also increased slightly year-on-year in the third quarter from £245m to £375m.
For the three months, Rathbone reported a 11.9% rise in underlying net operating income to £45.1m.
Howell said of the rest of the year: “Our outlook remains positive as we respond to the ongoing changes in the industry and continue to invest to ensure that we have the infrastructure and resources to support our growth objectives."
