Rathbones

Rathbone Brothers saw total funds under management rise 13.4% to £18bn in 2012 but the underlying rate of growth slowed in what it described as a "challenging" year.

Wealth manager Rathbones has acquired Taylor Young Investment Management's private client business in the first of a string of acquisitions for the group in the sector.

Fund managers have raised cash levels in their equity and bond portfolios to levels last seen at the height of the Lehmans crisis as valuations in risk assets hit extremes.

EQUITY INCOME

Rathbone Unit Trust Management saw its eighth consecutive quarter of net inflows in Q3 as funds under management continued to grow.

Wealth manager Rathbone Brothers has acquired an almost 20% holding in Vision Independent Financial Planning and sister company Castle Investment Solutions for £2m, with a view to buying the remainder of the companies in 2015.

Income manager Carl Stick discusses his outlook for UK stock market valuations and how he is using his cash as a strategic asset.

Rathbones' Julian Chillingworth, manager of the £49m Blue Chip Income & Growth fund, has cut back his defensive positions as he believes they have become overvalued.

A number of corporate bond funds are taking on too much risk by running hefty positions to bank bonds, Fund Expert's Brian Dennehy has said.

PASSIVES