Rathbones' funds under management fall by £5.1bn in the opening quarter of the year as the group progressed with its Investec Wealth merger.
In a Q1 update published today (8 May), the group's FUMA fell to £104.1bn at the end of March, down from £109.2bn three months prior. Rathbones profits surge 73% while outflows rise following IW&I integration The wealth management wing went from £93.4bn to £88.7bn while the asset management faction remained relatively flat at £15.4bn down from £15.8bn. The topline asset flows "reflected market volatility" during the period, and CEO Paul Stockton said "in a quarter that witnessed some considerable market turbulence, the group saw net outflows, primarily due to a lower level of gross...
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