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Rathbones Group PLC — Regulatory Filings 2018
Jan 11, 2018
4713_rns_2018-01-11_64cd60b3-e73a-4e08-b5c1-14b8a514e9dd.html
Regulatory Filings
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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.
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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.
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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%).
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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: [email protected] Philip Howell, Chief Executive Paul Stockton, Finance Director Shelly Patel, Head of Investor Relations |
Camarco Tel: 020 3757 4984 email: [email protected] 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.
*This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Rathbone Brothers Plc via Globenewswire*