Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Rathbones wealth inflows dip in 'challenging' 2012

Rathbones wealth inflows dip in 'challenging' 2012

Rathbone Brothers cited 'challenging' conditions after revealing inflows at its wealth arm dipped in 2012.

In a brief trading update from Rathbones ahead of its full year numbers scheduled for 20 February, the group said the annualised rate of net inflows at Rathbone Investment Management (RIM) fell from 7.5% in 2011 to 6.2% last year.

However, assets under management jumped 13.2% from £14.76 billion to £16.71 billion, outperforming the 5.9% increase in the FTSE 100 and 5.8% rise in the FTSE Apcims Balanced Index. The figure includes £486 million worth of acquired assets versus £305 million in the previous year.

The firm made a number of acquisitions last year, including the purchase London-based wealth manager RM Walkden & Co in April and Taylor Young Investment Management's wealth business in November.

Excluding acquisitions, the organic growth in funds under management RIM stood at 3% versus 5.4% in 2011.

Meanwhile assets at Rathbone Unit Trust Management rose 16.5% from £1.09 billion to £1.27 billion on the back of inflows of £66 million, which were 31% lower on 2011.  

At the end of last year Rathbones raised £24 million through a placing to fund further acquisitions and is cautiously optimistic for 2013.

The firm, which is fronted by chief executive Andy Pomfret (pictured), told the stock market: 'After a challenging 2012, UK equity markets ended the year on a more positive note.

'Rathbones looks forward to 2013 with more optimism, although markets do remain fragile as governments, particularly in the US, the UK and the eurozone, battle with difficult economic and financial conditions.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter