Rathbones

Market confidence in tech firms is yet to return as investors have not forgotten the aftermath of the tech bubble, according to Rathbone Unit Trust Management CIO Julian Chillingworth.

Rathbones' pre-tax profit for the first six months of 2013 rose 17% as the group's total funds under management near the £20bn mark.

Rathbone Unit Trust Management has launched a global total return fund for Carl Stick in a push to target sophisticated investors.

David Coombs, head of multi-asset investments at Rathbones, has decided to "reappraise his views" on the US after a trip to New York convinced him of the economy's growth potential.

Former Williams de Broë CEO Philip Howell is to join Rathbones as deputy chief executive as the group looks forward to 2013 with "more optimism".

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.