(Alliance News) - Rathbones Group PLC announced on Tuesday funds under management and administration were up 25% in 2021.
The London-based investment manager said total funds under management and administration at December 31 were GBP68.2 billion, up from GBP54.7 billion at the same time in 2020.
Of this, GBP50.3 billion was through the investment management business which was up 1.2% from GBP44.9 billion a year before. Another GBP13.0 billion was through Rathbone Funds, which was up 33% from GBP9.8 billion. Rathbone explained this increased reflected very strong net inflows.
Rathbones said the increase in FUMA reflected continuing net inflows, positive market movement, and the acquisition of Saunderson House Ltd, a financial planning and investment management company, which was completed in October.
The investment management business recorded gross inflows of GBP4.5 billion for the full year, up 15% from GBP3.9 billion in 2020. Net organic inflows were GBP800 million in 2021, up from none in 2020.
Rathbone Funds recorded GBP4.4 billion gross inflows for year, up 22% from GBP3.6 billion in 2020. Net inflows were GBP2.1 billion, up from GBP1.5 billion.
Looking forward, Rathbones said it remains in a strong position to continue delivery of strategic initiatives, secure the delivery of its ambitions for Saunderson House, and explore further opportunities to drive growth.
Shares in Rathbones were up 0.7% at 2,060.00 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Rathbone (RAT)