Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Rathbones Group PLC on Wednesday said it beat its benchmark in the third quarter despite challenging investment markets as funds under management decreased.
The London-based investment manager reported total funds under management & administration fell 1.7% to £57.9 billion at September 30 from £58.9 billion at June 30. This compares to its benchmark MSCI PIMFA Private Investor Balanced Index, which contracted by 3.5%.
The Investment Management business FuMA decreased 1.6% to £43.1 billion from £43.8 billion. In the Rathbone Funds business, FuMA decreased 2.8% to £10.6 billion from £10.9 billion, while at Saunderson House, it remained flat at £4.2 billion.
Looking ahead, Chief Executive Officer Paul Stockton said: "We continue to place a high priority on engaging meaningfully with our clients, both face-to-face and digitally, and are on track to deliver the first phase of our planned InvestCloud and Charles River implementations by the end of 2022. Rathbones is well-positioned to take advantage of the future growth opportunities that can arise both during and after periods of investment market volatility."
Rathbones shares were 0.5% lower at 1,784.00 pence each in London on Wednesday morning.
Copyright 2022 Alliance News Limited. All Rights Reserved.