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.