Rathbone Brothers Plc : Trading Statement

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 £34.2 billion, up 17.1% from £29.2 billion at 31 December 2015.
  • Funds under management in Investment Management were £30.2 billion at 31 December 2016, up 15.7% from £26.1 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 £292 million (Q4 2015: £368 million). The total for the year was £1.2 billion (2015: £1.4 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 £4.0 billion at 31 December 2016, up 29.0% from £3.1 billion at 31 December 2015. Total net fund inflows totalled £125 million in the fourth quarter of 2016 (Q4 2015: £165 million) and were £554 million for the full year (2015: £371 million).

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
31 December
  Year ended
31 December
  2016 2015   2016 2015
  £m £m   £m £m

 (i) Investment Management
Opening FUM (1 October / 1 January)29,30024,84226,12624,672
Net inflows2923681,1841,414
  Organic new business215227747739
  Acquired new business           77141437675
Market adjustment5929162,87440
Closing FUM (31 December) 1 30,184 26,126 30,184 26,126
Underlying annualised rate of net organic growth2.9%3.7%2.9%3.0%
Annualised rate of net inflows4.0%6.0%4.5%5.7%
(ii) Unit Trusts    
Opening FUM (1 October / 1 January)3,8622,7643,0732,521
Net inflows125165554371
Market adjustment64144424181
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 £937 million (31 December 2015: £923 million) of funds under execution only mandates


12 January 2017

For further information contact:

Rathbone Brothers Plc
Tel: 020 7399 0000
email: shelly.patel@rathbones.com


Philip Howell, Chief Executive
Paul Stockton, Finance Director
Shelly Patel, Investor Relations Manager
Tel: 020 3757 4984
email: ed.gascoigne-pees@camarco.co.uk


Ed Gascoigne-Pees

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.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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