British wealth manager Rathbone’s total funds under management (FuM) were £26.3bn as at 30 September 2014, up 10% compared to the previous quarter ended 30 June 2014.
The group saw its net operating income hit £49m, 13.4% higher than the £43.2m earned in the same quarter of 2013.
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However, underlying net operating income in Rathbones’ core Investment Management business was £45.1m, up 11.9% compared to £40.3m in the year ago period.
Rathbone Investment Management’s total net inflows surged to £2.406bn for the three months ended 30 September 2014 from £358m a year ago.
For the quarter, net interest income increased to £2.3m, up 9.5% from £2.1m in the prior year.
Additionally, the group’s funds business, Rathbone Unit Trust Management, saw funds under management increase to £2.3bn, up 25% from £1.9bn during the same period previous year.
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By GlobalDataFor the third quarter of 2014, the acquisition of Jupiter’s private client and charity investment management business by Rathbones has added a total of £1.9bn of FUM.
Philip Howell, CEO of Rathbones, said: "Despite relatively flat investment markets in the third quarter, Rathbones’ funds under management grew 10% from £23.9bn to £26.3bn as a result of continued net organic growth combined with the successful completion of the acquisition of Jupiter Asset Management Limited’s private client and charity investment management business.
"Our outlook remains positive as we respond to the ongoing changes in the industry and continue to invest to ensure that we have the infrastructure and resources to support our growth objectives," he added.
