Rathbone Brothers Rathbone Brothers Plc : Trading Statement
January 12 2017 - 1:00AM
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 2016. Trading in the period was robust,
reflecting a rally in investment markets and positive transaction
volumes.
-- Total funds under management at 31 December 2016 were GBP34.2 billion, up
17.1% from GBP29.2 billion at 31 December 2015.
-- Funds under management in Investment Management were GBP30.2 billion at
31 December 2016, up 15.7% from GBP26.1 billion at 31 December 2015. The
FTSE 100 Index increased 14.4% and the FTSE WMA Balanced Index increased
13.6% over the same period.
-- Total net inflows in Investment Management for the fourth quarter were
GBP292 million (Q4 2015: GBP368 million). The total for the year was
GBP1.2 billion (2015: GBP1.4 billion).
-- The underlying rate of net organic growth in funds under management in
Investment Management for the three months ended 31 December 2016 was
2.9% (2015: 3.7%) and 2.9% for the year ended 31 December 2016 (2015:
3.0%).
-- Funds managed by Unit Trusts were GBP4.0 billion at 31 December 2016, up
29.0% from GBP3.1 billion at 31 December 2015. Total net fund inflows
totalled GBP125 million in the fourth quarter of 2016 (Q4 2015: GBP165
million) and were GBP554 million for the full year (2015: GBP371
million).
Outlook
Despite the market rally in the last quarter of 2016, political and
economic uncertainty could particularly impact investment markets in
2017. 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.
Notice of Results
The Company will issue its preliminary statement of annual results for
the year ended 31 December 2016 on Thursday 23 February 2017.
Funds under management
3 months ended Year ended
31 December 31 December
2016 2015 2016 2015
GBPm GBPm GBPm GBPm
(i) Investment Management
Opening FUM (1 October / 1 January) 29,300 24,842 26,126 24,672
Net inflows 292 368 1,184 1,414
Organic new business 215 227 747 739
Acquired new business 77 141 437 675
Market adjustment 592 916 2,874 40
Closing FUM (31 December) (1) 30,184 26,126 30,184 26,126
Underlying annualised rate of net organic
growth 2.9% 3.7% 2.9% 3.0%
Annualised rate of net inflows 4.0% 6.0% 4.5% 5.7%
(ii) Unit Trusts
Opening FUM (1 October / 1 January) 3,862 2,764 3,073 2,521
Net inflows 125 165 554 371
Market adjustment 64 144 424 181
Closing FUM (31 December) 4,051 3,073 4,051 3,073
Total FUM (31 December)(1) 34,235 29,199 34,235 29,199
(1) Includes GBP937 million (31 December 2015: GBP923 million) of funds
under execution only mandates
ENDS
12 January 2017
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, Investor Relations Manager
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. This
includes discretionary investment management, unit trusts, tax planning,
trust and company management, pension advice and banking services.
Rathbones has over 1,100 staff in 16 locations across the UK and Jersey,
and currently has its headquarters in Curzon Street, 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 12, 2017 02:00 ET (07:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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