Rathbone Brothers Plc : Trading Statement

Rathbone Brothers Plc
Trading Update and Notice of Results

Rathbone Brothers Plc ("the Company") announces a trading update for the three months ended 31 December 2017. Growth in funds under management was robust, reflecting both favourable investment markets and continued growth in the business.

• Total funds under management at 31 December 2017 were £39.1 billion, up 14.3% from £34.2 billion at 31 December 2016. Total net inflows across the group for the year were £2.1 billion (2016: £1.7 billion) which represents 6.0% (2016: 6.0%) of opening funds under management. The FTSE 100 Index increased 7.6% and the MSCI WMA Private Investor Balanced Index increased 7.2% over the same period.  
• Funds under management in Investment Management were £33.8 billion at 31 December 2017, up 11.9% from £30.2 billion at 31 December 2016. Total net inflows in Investment Management (organic and acquired) for the fourth quarter were £290 million (Q4 2016: £292 million). The total for the year was £1.2 billion (2016: £1.2 billion). The underlying annualised rate of net organic growth in funds under management in Investment Management for the three months ended 31 December 2017 was 3.1% (2016: 2.9%) and 3.0% for the year ended 31 December 2017 (2016: 2.9%).
• Funds managed by Unit Trusts reached a record £5.3 billion at 31 December 2017, up 32.5% from £4.0 billion at 31 December 2016. Total net fund inflows totalled £272 million in the fourth quarter of 2017 (Q4 2016: £125 million) and were £883 million for the full year (2016: £554 million).

Notice of Results
The Company will issue its preliminary statement of annual results for the year ended 31 December 2017 on Thursday 22 February 2018.

Funds under management

	3 months ended 31 December			Year ended 31 December
	2017	2016		2017	2016
	£m	£m		£m	£m
(i) Investment Management
Opening FUM (1 October / 1 January)	32,535	29,300		30,184	26,126
Net inflows	290	292		1,169	1,184
Organic new business	254	215		902	747
Acquired new business	36	77		267	437
Market adjustment	955	592		2,427	2,874
Closing FUM (31 December) 1	33,780	30,184		33,780	30,184
Underlying annualised rate of net organic growth	3.1%	2.9%		3.0%	2.9%
Annualised rate of net inflows	3.6%	4.0%		3.9%	4.5%
(ii) Unit Trusts
Opening FUM (1 October / 1 January)	4,982	3,862		4,051	3,073
Net inflows	272	125		883	554
Market adjustment	113	64		433	424
Closing FUM (31 December)	5,367	4,051		5,367	4,051
Total FUM (31 December)1	39,147	34,235		39,147	34,235
Net fund inflows
Investment Management	290	292		1,169	1,184
Unit Trusts	272	125		883	554
Total	562	417		2,052	1,738

¹ Includes £1,163 million (31 December 2016: £937 million) of funds under execution only mandates.  

ENDS

11 January 2018

For further information contact:

Rathbone Brothers Plc Tel: 020 7399 0000 email: shelly.patel@rathbones.com   Philip Howell, Chief Executive Paul Stockton, Finance Director Shelly Patel, Head of Investor Relations	Camarco Tel: 020 3757 4984 email: ed.gascoigne-pees@camarco.co.uk   Ed Gascoigne-Pees

Rathbone Brothers Plc

Rathbone Brothers Plc ("Rathbones"), through its subsidiaries, is a leading provider of high-quality, personalised investment and wealth management services for private clients, charities and trustees. Our services include discretionary investment management, unit trusts, banking and loan services, financial planning, unitised portfolio services, and UK trust, legal, estate and tax advice.

Rathbones has over 1,100 staff in 16 UK locations and Jersey; its headquarters is 8 Finsbury Circus, London.

rathbones.com