Rathbones targets more M&A

Despite firm’s funds under management and administration dropping £8bn in 2022


Rathbones Group is targeting acquisitions in 2023 despite suffering an £8bn fall in funds under management and administration (FUMA) to close out 2022 on £60.2bn.

In an announcement to the stock exchange, the firm said a strong balance sheet and clear direction means it is “well-placed to consider inorganic growth opportunities”.

In the 12 months to 31 December 2022, the firm’s investment management business suffered a 10.2% drop in FUMA to £45.1bn after starting the year at £50.3bn.

However, the group as a whole recorded £145m net inflows in the final three months of the year, while FUMA grew £2.2bn. The group’s discretionary and managed offerings attracted £347m of net inflows in Q4, totalling £1.3bn for the year.

Meanwhile, investors placed a net £323m into funds in Rathbones’ wealth management division in the final quarter of the year. The firm’s £2.1bn multi-asset offering also pulled £94m over the period.

The London-based wealth manager’s subsidiary Saunderson House was the only department to record net outflows in Q4, as investors pulled £67m.

Rathbones acquired Saunderson House in a £150m deal in 2021. Rathbones said: “The integration of Saunderson House is progressing in line with plan, with new propositions launched during the year beginning to be taken up by clients in the fourth quarter.”

See also: Rathbones names first chief client officer


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