Rathbones inflows slow in 'challenging' first half of 2023

Net operating income remains resilient

Rathbones Group’s inflows slowed in a “challenging” first half of 2023, but the asset manager’s net operating income remained resilient due to interest earned on cash, despite lower fee revenue.

In its interim results for the first half of 2023, released today (26 July), the group reported that its funds under management and administration had grown 2.7% to £60.5bn, up from £58.8bn in the first half of 2022.  Rathbones said outflows were "elevated" due to net losses in its charities business and increases in lower value outflows, but gross organic inflows grew at an annualised rate of 11.4% of opening FUMA.  Investec reports 'strong results' as profits surge 21.6% Total discretionary and managed net inflows slowed to £200m, down from £600m in the same period last year, rep...