LONDON (Reuters) - British wealth manager Rathbone Brothers posted a 6.3 percent rise in first-quarter funds under management, boosted by net inflows and positive market performance.
In the three months to end March, total funds under management rose to 28.9 billion pounds after the firm took in 177 million pounds in new money and saw net organic growth of 221 million pounds, it said in a statement.
Net underlying operating income in Rathbone Investment Management, meanwhile, was 54.7 million pounds compared with 46.3 million pounds in the year-earlier period.
“With a backdrop of reasonably favourable investment markets our total funds under management reached 28.9 billion pounds at the end of the first quarter, up 6.3 percent from 31 December 2014,” said Chairman Mark Nicholls.
“We continue to make good progress on the strategic initiatives we outlined last year, and remain positive in our outlook as we continue to invest and consider future growth opportunities in our sector.”
Reporting by Simon Jessop, editing by Sinead Cruise