UK wealth manager Rathbone Brothers, in a trading update, said funds under management stood at £13.12 billion ($25.66 billion) at 31 December 2007, up 7.2 per cent on the previous year. The firm’s discretionary investment management arm, which specialises in services for private clients and charities, increased the funds it manages by 8.2 per cent to £11.23 billion over the period. Chairman Mark Powell said the unit had enjoyed an uplift in funds under management thanks to the continued popularity of these two areas of the business. “Assets under management in charities now total over £1 billion, while the SIPP business is also a good driver going forward,” he said. But he predicted the credit crunch would have an impact on new client enquiries in the first half of the year, adding that the outlook should be more positive in the second half. Rathbone Unit Trust Management also increased its assets under management over the last twelve months, with the total amount of funds it managed rising 1.6 per cent to £1.89 billion. The firm will issue its preliminary results for the year ended 31 December in early March.