Investment manager Rathbones has seen a 10 per cent boost in funds under management following the acquisition of Jupiter's private client and charity investment management business.

Investment manager Rathbones has seen a 10 per cent boost in funds under management following the acquisition of Jupiter's private client and charity investment management business.

The £40 million ($64 million) deal was completed in September and added £1.9 billion in funds under management. Total funds under management stand at £26.3 billion for September, up from £23.9 billion at the end of June.

“Our outlook remains positive as we respond to the ongoing changes in the industry and continue to invest to ensure that we have the infrastructure and resources to support our growth objectives,” said Philip Howell, chief executive.

Net inflows came in at £2.4 billion, while revenues were up 13.4 per cent to £49 million compared to 2013.

The underlying rate of net organic growth stood at 5.1 per cent, down from 5.6 per cent in the same period last year, while the nine-month underlying growth rate was flat year-on-year at 4.7 per cent.