Rathbones year-end funds under management up 25pc

Rathbones Group reported total funds under management and administration as at 31 December of £68.2bn on Tuesday, up 24.7% from the £54.7bn it recorded at the end of 2020.

The FTSE 250 company said that reflected continuing net inflows, positive market movement and the acquisition of Saunderson House.

It reported £50.3bn in the investment management business, up 12% from £44.9bn a year earlier, while the MSCI PIMFA Private Investor Balanced Index increased 10.3% over the year.

The firm also recorded £13bn in Rathbone Funds, up 32.7% from £9.8b on 31 December 2020, reflecting “very strong” net inflows.

It said Saunderson House funds under management and administration totalled £4.9bn, following completion of that acquisition in October.

The investment management business recorded strong gross inflows of £4.5bn for the full year, rising from £3.9bn.

Net organic inflows totalled £0.8bn, up from nil, while total net inflows of discretionary funds under management and administration in the year were £1.2b, rising from £0.9bn and representing a net growth rate of 2.8%.

Rathbone Funds recorded gross inflows of £4.4bn for the full year, up from £3.6bn in 2020.

Net inflows totalled £2.1bn for the year, compared to £1.5bn in the prior period, representing an organic growth rate of 21.1%, up from 20.1%.

“Rathbones remains in a strong position to continue delivery of strategic initiatives, secure the delivery of our ambitions for Saunderson House, and explore further opportunities to drive growth,” the company’s board said in its statement.

It said it would publish its preliminary statement of annual results for the year ended 31 December on 24 February.