Reports
UK's Rathbones Reports AuM Rise In Q1; Gain Is Even Bigger With Recent Acquisitions

Rathbone Brothers said total funds under management at 5 April this year stood at £22.8 billion, a rise of 3.6 per cent at 31 December last year and up by 16.3 per cent from a year earlier.
Rathbone
Brothers total funds under management at 5 April this year
stood at £22.8 billion ($38.4 billion), a rise of 3.6 per cent
from 31 December last year and up by 16.3 per cent from a year
earlier.
During these periods, the FTSE 100 Index of blue-chip UK stocks
fell by 0.8 per cent and the FTSE WMA (formerly APCIMS) Balanced
Index increased by 0.6 per cent, the UK-listed firm said today in
a statement.
Total net growth of funds under management in Rathbone Investment
Management was £309 million, representing a total net annualised
growth rate of 6.1 per cent (2013: 8.8 per cent). This figure
includes acquired inflows of £98 million and net organic growth
of £211 million for the quarter. Net organic growth in the first
quarter represents an annualised growth rate of 4.2 per cent
compared to 3.8 per cent in the first three months of 2013.
The recently announced acquisitions of Jupiter Asset Management
Limited's private client and charity investment management
business and Deutsche Bank's London private client investment
management business “have had no impact on funds under management
in the first quarter”, it said.
Assuming that all of the funds under management of Jupiter
Private Clients and Deutsche London transfer (based upon their
values at 14 March and 21 February 2014 respectively), this would
increase total funds under management by approximately 12.3 per
cent to £25.6 billion on a pro-forma basis, it continued.
Underlying net operating income in Rathbone Investment Management
stood at £46.3 million, a rise of 11.3 per cent year on year in
the first three months of 2014.
Commission income of £12.6 million rose by 5 per cent year on
year and reflected normal seasonal patterns in the run up to the
end of the 2013/14 tax year.