Rathbone Brothers funds under management rise in third quarter

FTSE 250 wealth manager Rathbone Brothers reported a jump in assets in the third quarter on Wednesday as inflows grew.

In the three months to 30 September, total funds under management rose to £37.5bn from £36.6bn at the end of June. Meanwhile, total net inflows came in at £619m , with £277m of inflows from its investment management division and £342m from its unit trusts.

Overall underlying net operating income came in at £70.5m in the third quarter, up 7% from the same period a year ago, while net operating income in the investment management division was 5.6% higher at £62.5m.

Chief executive Philip Howell said funds under management grew in a quarter where investment markets “remained relatively benign”.

"We continue to progress our strategic initiatives and invest in our core infrastructure to support client service and meet the demands of forthcoming regulation. We are well positioned for the future and will continue to pursue growth opportunities both organically and through acquisition, approaching each with discipline."