Rathbones has reported that funds under management climbed 23.6 per cent to £27.2bn in the 12 months to December 31 2014, citing two “significant” acquisitions.
In its preliminary statement of annual results, it announced that the total net annual growth rate of funds under management for Rathbone Investment Management was 19.6 per cent, compared to 9 per cent in 2013.
This comprised £3.2bn of acquired inflows, including £2.6bn in relation to the Jupiter Asset Management and Deutsche Asset & Wealth Management transactions, and £0.8bn of net organic growth, down from £0.9bn last year.
Rathbone Unit Trust Management saw gross sales reach a record £1bn in 2014 as funds under management increased 38.9 per cent to £2.5bn at the end of December 2013.
Underlying profit before tax at Rathbones was up by 21.8 per cent in the year to reach £61.5m, while profit before tax was £45.7m for the year, up 3.4 per cent compared to the £44.2m reported in 2013.
The business confirmed that it added more than 5,000 new clients during the year.
Mark Nicholls, chairman of Rathbone Brothers, said: “2014 was a challenging year for most investment markets, which became increasingly volatile in the second half. Despite this, Rathbones had another good year and achieved strong and broad-based growth.”
He added: “Rathbones looks forward to future growth opportunities in the sector, but remains aware of the possible adverse market effects that current political and economic uncertainty, both in this country and overseas, may have.”
Philip Howell took over from Andy Pomfret as chief executive of the company on March 1 last year.
