Rathbone Brothers said its assets under management surged last year.

Rathbone Brothers, the UK-listed wealth manager, said today that its total funds under management at the end of last year stood at £27.2 billion ($41.2 billion), rising 23.6 per cent year-on-year, and up 3.4 per cent from the end of September 2014.

The firm, which will issue a preliminary statement of annual results for the year ended 31 December 2014 on 19 February 2015, said the figures are expected to match its expectations.

Total net inflows in Rathbone Investment Management for the fourth quarter were £327 million (Q4 2013: £353 million). The total for the year was £4.0 billion (2013: £1.5 billion), which includes the impact of 2014 acquisitions.

The underlying rate of net organic growth in funds under management at Rathbone Investment Management for the year ended 31 December 2014 was 4.0 per cent (2013: 5.4 per cent). Net organic growth in the fourth quarter was impacted by the loss of two large lower margin accounts.

“Although we expect investment markets to continue to be volatile in 2015, our outlook remains positive,” the firm said.