Jupiter and Deutsche deals lift Rathbones' FUM past £27bn

Rathbones saw its funds under management boosted in 2014 thanks to deals with Jupiter Asset Management and Deutsche Asset & Wealth Management.

In its preliminary full-year results for the year ended 31 December 2014, the firm said funds under management grew by 24% to £27.2bn, up from £22bn at the end of 2013. Some £3.2bn of inflows came from acquired inflows, including £2.6bn in relation to the acquisition of Jupiter's and Tilney Investment Management's private client arms, and £800m was attributable to organic growth. It was also helped by 5,000 new clients coming to the firm. Underlying pre-tax profit increased 22% from £50.5m to £61.5m, while underlying operating income was £185.3m, an increase of 12.1%. Operating exp...