Rathbone Brothers sees rise in funds under management
Rathbones Group
2,140.00p
11:54 09/02/23
0.94%
20.00p
Wealth manager Rathbone Brothers reported a rise in funds under management and administration in the first nine months of 2021, with positive net organic inflows in the third quarter.
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The company on Thursday said funds under management rose 11% to £60.9bn at September 30. Third quarter gross inflows were £1.1bn, almost double year on year, and net organic inflows were £329m.
Underlying net operating income of £106.4 was, up 22% from a year earlier. Investment management fees rose 28.2%, offsetting lower commissions, and net interest income of 8.9% and 61.3% respectively.