British wealth manager Rathbone Brothers' total funds under management (FuM) at the end of 31 December 2016 were £34.2bn, a surge of 17.1% compared to £29.2bn a year ago.
The group’s investment management unit had FuM of £30.2bn at the end of December 2016, a 15.7% jump from £26.1bn at the end of December 2015. Total net inflows in the unit during the fourth quarter of 2016 were £292m, down 20.6% compared to £368m in the year ago period.
Funds managed by the group’s unit trusts division stood at £4bn at the end of December 2016, a 29% surge from £3.1bn a year earlier.
Total net fund inflows in the fourth quarter of 2016 were £125m, a slump of 24.2% from £165m in the corresponding quarter of 2015.
Additionally, Rathbones also confirmed that it is on the lookout for acquisition opportunities.
“We expect to pursue planned growth initiatives in the coming year and continue to prioritise expenditure that enhances our client service and upgrades our infrastructure. We retain an appetite for acquisitions that fit our culture and look forward with cautious optimism,” the group said.