Total funds under management at UK-listed Rathbone Brothers rose 9.5 per cent between the end of last year and 30 September to £17.35 billion ($27.8 billion), the firm announced today. The increase outpaced a 3.1 per cent rise in the FTSE 100 Index of blue-chip stocks.

The total annualised rate of net inflows slowed at Rathbone Investment Management – the private client part of the parent firm - however, to 5.5 per cent in the nine-month period, compared with an 8.2 per cent rate for the same period last year. The underlying annualised rate of net organic growth of funds under management was 2.8 per cent for the nine-month period, versus 6.2 per cent a year ago.

Rathbone Brothers said underlying net operating income – accounting for its revised charging structure that started in the second quarter of last year – was £116 million for the nine months to the end of September, up from 107.6 million a year ago, up 7.8 per cent. In the three months to end-September, operating income was £38.3 million, a 12.6 per cent rise.

On 2 October, Rathbone Investment Management International announced it had acquired the investment business of AIB Jersey, adding £43 million of client money; Rathbone Brothers has acquired a 19.9 per cent stake in Vision Independent Financial Planning and its sister business, Castle Investment Solutions, paying £2 million in cash.