Rathbones sees £182m net redemptions

Rathbones saw £182m redemptions in its unit trust business during the first quarter of 2009. The ...

Rathbones saw £182m redemptions in its unit trust business during the first quarter of 2009. The company's unit trust business saw total funds under management fall from £1.29bn at 31 December to £755m at the end of March reflecting market falls at net redemptions which included the withdrawal of two mandates worth £130m. Total funds under management were down 5.6% to £9.87bn at 5 April from £10.46bn at 31 December 2008 compared to a fall of 9.1% in the FTSE 100 over the same period. The company also reported net operating income of £27.3m a 4.5% fall in on the first quarter of 2008. ...