LONDON (dpa-AFX) - UK Wealth Manager Rathbone Brothers (RAT.L) Thursday, in its nine-month trading update, said its total funds under management and administration or FUMA reached 60.9 billion pounds as at September 30, 2021. This compares to 50.49 billion pounds as at September 30, 2020.
During the nine-month period, FUMA for Investment management business was recorded at 48.8 billion pounds, while it was 12.1 billion pounds for Rathbone Funds.
The Group's underlying net operating income for the period grew more than 20 percent to 320 million pounds. Investment Management fees grew 30.8 percent, while commission income was down by 14.6 percent during nine months. Net interest income fell by 53.7 percent.
In addition, the Group said its acquisition of Saunderson House is anticipated to complete during the fourth quarter and will be reported as acquired new business in that period.
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