Rathbone Brothers Rathbone Brothers Plc : Trading Statement
11 January 2018 - 6:00PM
UK Regulatory
TIDMRAT
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 GBP39.1 billion, up
14.3% from GBP34.2 billion at 31 December 2016. Total net inflows across
the group for the year were GBP2.1 billion (2016: GBP1.7 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 GBP33.8 billion at
31 December 2017, up 11.9% from GBP30.2 billion at 31 December 2016.
Total net inflows in Investment Management (organic and acquired) for the
fourth quarter were GBP290 million (Q4 2016: GBP292 million). The total
for the year was GBP1.2 billion (2016: GBP1.2 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 GBP5.3 billion at 31
December 2017, up 32.5% from GBP4.0 billion at 31 December 2016. Total
net fund inflows totalled GBP272 million in the fourth quarter of 2017
(Q4 2016: GBP125 million) and were GBP883 million for the full year
(2016: GBP554 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 Year ended
31 December 31 December
2017 2016 2017 2016
GBPm GBPm GBPm GBPm
(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 GBP1,163 million (31 December 2016: GBP937 million) of
funds under execution only mandates.
ENDS
11 January 2018
For further information contact:
Rathbone Brothers Plc Camarco
Tel: 020 7399 0000 Tel: 020 3757 4984
email: shelly.patel@rathbones.com email: ed.gascoigne-pees@camarco.co.uk
Philip Howell, Chief Executive Ed Gascoigne-Pees
Paul Stockton, Finance Director
Shelly Patel, Head of Investor Relations
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 http://www.rathbones.com
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
http://www.rathbones.com/
(END) Dow Jones Newswires
January 11, 2018 02:00 ET (07:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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