Rathbone Unit Trust Management has seen its funds under management soar by 16.7% in the first quarter of 2014, according to results published today.
Net inflows of £222m helped RUTM grow its assets from £1.8bn at the end of December to £2.1bn by the end of Q1. Underlying net operating income soared 45.8% over the same time period, to £3.5m.
The results reveal a strong quarter for Rathbones, compared to average FUM growth among investment management companies of just 1.7% between December and March.
The group also revealed it had expanded its range of services after Rathbone Trust Company bought law firm Rooper & Whateley in May in a bid to "add depth to its range of advisory services".
Meanwhile Rathbone Investment Management saw FUM net growth of 6.1%, including inflows of £98m. Underlying net operating income was £46.3m – 11.3% higher than the same time last year.
Rathbones chairman Mark Nicholls said the firm had enjoyed a positive quarter despite the market's move sideways: “The recent acquisitions of Jupiter Asset Management Limited's private client and charity investment management business and Deutsche Bank's London private client investment management business are progressing well.
"Our outlook remains optimistic with the impact of recent acquisitions expected to have a positive effect on earnings in 2015. We are continuing to invest in people and systems whilst managing costs carefully and expect future growth opportunities to arise in the sector."
