Rensburg Fund Management sees profits fall 26.5%

Rensburg Fund Management's (RFM) year-end profit before tax declined 26.5% to £4.3m from £6.2m at the...

Rensburg Fund Management's (RFM) year-end profit before tax declined 26.5% to £4.3m from £6.2m at the end of last year. RFM's total funds under management fell £390m from £1.47bn to £1.08bn this year while its retail unit trust funds under management declined by 28.7% over the year to £0.77bn (2008: £1.08bn). Outflows of £380m accounted for a large part of the drop in funds under management although the largest detractor were market movements which accounted for £470m of Rensburg's total fall in assets under management. However, the firm has seen £470m gross in inflows which were evenly...