British wealth manager Rathbone Brothers’ first quarterly results of 2014 were positive with funds under management (FuM) rising to £22.8 billion, 3.6% higher than the previous quarter and 16.3% higher than the same period last year.
In addition, Rathbone Investment Management saw its underlying net operating income hit £46.3 million, 11.3% higher than the £41.6 million earned in the first quarter of 2013.
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Mark Nicholls, chairman of Rathbones, said: "Our first quarter was positive with total funds under management at the end of the quarter reaching £22.8 billion, up 3.6% from 31 December 2013. Our outlook remains optimistic with the impact of recent acquisitions expected to have a positive effect on earnings in 2015. We are continuing to invest in people and systems whilst managing costs carefully and expect future growth opportunities to arise in the sector."
Recently, Rathbones has been heavily involved in the M&A market having acquired law firm Rooper & Whately, as well as Jupiter Private Clients, the private client and charity investment arm of Jupiter Asset management, and Deutsche bank’s London private client investment management business.
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