Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. 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 Video special: what Scottish DFMs think of SNP election flop

Video special: what Scottish DFMs think of SNP election flop

As delegates gathered for Citywire Scotland, we asked them their take on the election.

Play Keith Skeoch: 'passive has a part to play'

Keith Skeoch: 'passive has a part to play'

In the third part our series, Skeoch outlines his vision for Standard Aberdeen.

2 Comments Play Keith Skeoch: why I believe markets will make 'substantial returns'

Keith Skeoch: why I believe markets will make 'substantial returns'

In an exclusive interview, Standard Life CEO Keith Skeoch tells us why he takes an optimistic view on markets just about everywhere.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter