StockMarketWire.com - Rathbone Brothers' net operating income rose by 6.8% to £75.4 million in the three months to 31 March 2018.

Total funds under management were £37.8 billion at the end of the first quarter, down 3.3% from £39.1 billion at 31 December 2017.

Total net organic and acquired growth in Investment Management was £199 million during the quarter, representing a total net annualised growth rate of 2.4% (2017: 4.2%) and reflecting some marginally higher outflows.

Net organic growth in the first quarter represents an annualised growth rate of 2% compared to 3.3% in the first three months of 2017.

Net operating income of £66.6 million in Investment Management for the first quarter of 2018 was 5.2% higher than the £63.3 million for the comparable period in 2017.

Unit Trusts experienced strong net inflows of £142 million during the quarter (2017: £109 million). These were offset by market performance, resulting in funds under management remaining stable at £5.3 billion. However, net operating income of £8.8 million was 20.5% higher than the £7.3 million for the comparable period in 2017.


At 9:42am: [LON:RAT] Rathbone Brothers PLC share price was -2p at 2434p



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