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Rathbone Brothers funds under management up 8.6 percent in H1

Published 24/07/2014, 07:37
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LONDON (Reuters) - UK wealth manager Rathbone Brothers said on Thursday that funds under management (FuM) rose 8.6 percent to 23.9 billion pounds ($40.70 billion) in the first half of the year.

Total net growth in FuM was 1.5 billion pounds, it added in a statement, an annualised growth rate of 14.3 percent compared with 9.4 percent in the same period a year earlier.

The company said its board had recommended a 19 pence interim dividend for 2014, an increase of 5.6 percent on 2013, and added that it expected recent acquisitions to have a positive effect on earnings in 2015.

(Reporting by Simon Jessop; editing by Nishant Kumar)

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