RUTM records 17pc surge in fum

The unit trust side of Rathbones' business showed a strong first quarter ending with £2.1bn funds under management.

RUTM records 17pc surge in fum


Net inflows of £222m lifted total funds under management to £2.1bn by the end of the first quarter, from £1.8bn at the end of December. Underlying net operating income rose to £3.5m, or up by 45.8%.
The investment management arm of the business saw a 6.1% increase in funds under management, and was boosted by £98m net inflows.
“The company has been working hard on achieving organic growth, its main bread and butter. It's done this through better marketing, by targeting the IFA market and through SIPP offerings,” an analyst commented.
Additionally the company has been mopping up smaller businesses or “corporate orphans” leveraging acquired growth. 
“Rathbones made a point that they most certainly do not have IT issues, following Brewin Dolphin’s statement yesterday. They’ve been slick with making their back office efficient and capable of absorbing new clients,” the analyst added.
In the statement the company announced it acquisition of the law firm Rooper & Whately on 1 May which expands its range of advisory services. 
Chairman Mark Nicholls noted that the recent acquisitions of Jupiter Asset Management Limited's private client and charity investment management business and Deutsche Bank’s London private client investment management business were progressing well.  
“Our outlook remains optimistic with the impact of recent acquisitions expected to have a positive effect on earnings in 2015. We are continuing to invest in people and systems whilst managing costs carefully and expect future growth opportunities to arise in the sector,” he said.


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