Rathbone Brothers sees rise in funds under management

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.

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.