Total funds under management at Rathbones was £15.9bn at 31 December 2011, up 1.4 per cent from £15.6bn at 31 December 2010.
By Emma Ann Hughes | Published Feb 21, 2012 |
Article from FT Advisers
Investment house Rathbones revealed today that its profits for 2011 has risen by 30 per cent compared to the previous year, increasing from a little more than £30m to £39.2m.
In its annual results, published today (21 February), the firm also revealed that funds under management increased in 2011 to £15.9bn, a 1.4 per cent rise year on year from the £15.6bn recorded at the end of 2010.
Total net annual growth rate of funds under management for Rathbone Investment Management was 8 per cent, compared with 10 per cent in 2010.
This comprised of £0.31bn of acquired inflows, compared with £0.60bn in 2010, and £0.79bn of net organic growth, compared with £0.64bn in 2010. The underlying annual net organic growth rate was 5 per cent - the same as the previous year.
Rathbone Unit Trust Management saw positive net monthly sales throughout 2011 helping its funds under management to increase by 5 per cent to £1.09bn at 31 December 2011.
Profit before tax in Rathbone Unit Trust Management was £0.8m for the year ended 31 December 2011, compared with£0.5m in 2010.
The company’s basic earnings per share stood at 66.7p for 2011, up 34 per cent on 49.8p in 2010.
Company bosses said they are positive about the prospects for 2012, with the UK equity market having ended 2011 strongly.
Andy Pomfret, chief executive of Rathbone Brothers, said: “Rathbones is cautiously optimistic about the prospects for 2012 with the UK equity market ending 2011 on a more positive note.
“There is no doubt that the uncertainties over Europe persist but these are balanced by indications that the world economy continues to grow and some developed economies are showing small signs of improvement, particularly the US.
“We are seeing signs of underlying cost inflation but we will continue to invest in and grow our business. We continue to be well positioned to take advantage of opportunities to welcome more investment managers and clients to Rathbones.”
Article from FT Advisers
