October 17, 2019 / 6:07 AM / a month ago

BRIEF-Rathbone Brothers books 4.4% rise in AUM to 49.4 bln stg

Oct 17 (Reuters) - Rathbone Brothers PLC:

* TOTAL FUNDS UNDER MANAGEMENT AND ADMINISTRATION INCREASED 4.4% TO £49.4 BILLION AT 30 SEPTEMBER 2019 (30 SEPTEMBER 2018: £47.3 BILLION).

* TOTAL NET INFLOWS WERE £0.1 BILLION IN Q3 (2018: £7.0 BILLION, LARGELY REFLECTING ACQUISITION OF SPEIRS & JEFFREY)

* GROSS ORGANIC INFLOWS IN INVESTMENT MANAGEMENT IN QUARTER REMAINED RESILIENT AT £0.8 BILLION (2018: £0.8 BILLION) IN A DIFFICULT MARKET FOR SAVINGS.

* NET INFLOWS IN UNIT TRUSTS FOR QUARTER REMAINED STRONG AT £0.3 BILLION AGAINST A DIFFICULT ENVIRONMENT FOR ASSET MANAGERS (2018: £0.1 BILLION).

* INCOME IN INVESTMENT MANAGEMENT TOTALLED £76.7 MILLION IN QUARTER, UP 8.3% ON £70.8 MILLION REPORTED FOR COMPARABLE PERIOD IN 2018.

* WE INTEND TO LEVERAGE CORE STRENGTHS OF OUR BUSINESS BY INVESTING OVER NEXT 2-3 YEARS TO ENHANCE ORGANIC GROWTH.

* DURING THIS TIME, WE BELIEVE IT IS APPROPRIATE TO OPERATE BUSINESS CLOSER TO A MID-TWENTIES UNDERLYING OPERATING MARGIN TO ENABLE US TO CREATE LONG TERM GROWTH OPPORTUNITIES, IMPROVE CLIENT SERVICES AND DELIVER PRODUCTIVITY GAINS. Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

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