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Thursday, 11 January 2018

Rathbone Brothers Plc : Trading Statement

     

Published: 08:00 CET 11-01-2018 /GlobeNewswire /Source: Rathbone Brothers Plc / : RAT /ISIN: GB0002148343

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

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Rathbone Brothers Plc, 1 Curzon Street, London W1J 5FB, UK
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