StockMarketWire.com - Wealth management group Rathbone Brothers said its funds under management increased by 19% in the third quarter following its acquisition of Speirs & Jeffrey, helping it to boost operating income.

Funds under management for the three months through September grew to £47.3bn.

Excluding the acquisition, funds under management grew 1.8% compared to the second quarter. That compared to a 1.7% fall in the FTSE 100 index and a 1.0% rise in the MSCI WMA private investor balanced index.

Underlying net operating income in the third quarter rose 14% to £80.3m.

For the first nine months of the year, underlying net operating income rose 9% to £233.5m.




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