12th Jan 2017 08:06
LONDON (Alliance News) - Wealth manager Rathbone Brothers PLC said Thursday it saw its total funds under management increase by 17% in 2016, with net inflows seen in the final quarter of the year.
FTSE 250-listed Rathone said its total funds under management at the end of December stood at GBP34.20 billion, up by 17% from GBP29.20 billion at the same date in 2015.
During the fourth quarter of 2016, Rathbone's Investment Management division saw total net inflows of GBP292.0 million, bringing its net inflows for the year to GBP1.20 billion.
Meanwhile, the company's funds managed by Unit Trusts saw total net inflows of GBP125.0 million in the fourth quarter of 2016, and GBP554.0 million net inflows across 2016 as a whole.
Rathbone Brothers will release its 2016 results on February 23.
"Despite the market rally in the last quarter of 2016, political and economic uncertainty could particularly impact investment markets in 2017. We expect to pursue planned growth initiatives in the coming year and continue to prioritise expenditure that enhances our client service and upgrades our infrastructure. We retain an appetite for acquisitions that fit our culture and look forward with cautious optimism," said Rathbone Brothers.
Shares in the firm were up 0.3% at 2,050.63 pence early Thursday.
By Adam Clark; [email protected]
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