TIDMRAT
RNS Number : 9783X
Rathbones Group PLC
11 January 2022
Rathbones Group Plc
Funds under management and administration update and notice of
results
Rathbones Group Plc ("Rathbones") announces a funds under
management and administration (FUMA) update for the year ended 31
December 2021.
- Total FUMA at 31 December 2021 were GBP68.2 billion, up 24.7%
from GBP54.7 billion at 31 December 2020, reflecting continuing net
inflows, positive market movement and the acquisition of Saunderson
House Limited.
- GBP50.3 billion in the Investment Management business was up
12.0% from GBP44.9 billion at 31 December 2020. The MSCI PIMFA
Private Investor Balanced Index increased 10.3% over the year.
- GBP13.0 billion in Rathbone Funds was up 32.7% from GBP9.8
billion at 31 December 2020, reflecting very strong net
inflows.
- GBP4.9 billion of Saunderson House FUMA following completion of acquisition in October 2021.
- The Investment Management business recorded strong gross
inflows of GBP4.5 billion for the full year (2020: GBP3.9 billion).
Net organic inflows for the year totalled GBP0.8 billion (2020:
GBPnil). Total net inflows of discretionary FUMA in the year were
GBP1.2 billion (2020: GBP0.9 billion), which represents a net
growth rate of 2.8% (2020: 2.2%).
- Rathbone Funds recorded GBP4.4 billion gross inflows for the
full year (2020: GBP3.6 billion). Net inflows totalled GBP2.1
billion for the year (2020: GBP1.5 billion) representing an organic
growth rate of 21.1% (2020: 20.1%).
Outlook
Rathbones remains in a strong position to continue delivery of
strategic initiatives, secure the delivery of our ambitions for
Saunderson House, and explore further opportunities to drive
growth.
Notice of results
Our preliminary statement of annual results for the year ended
31 December 2021 will be published on Thursday, 24 February 2022. A
presentation to analysts will be held on the same day.
Funds under management and administration (FUMA)
3 months ended Year ended
31 December 31 December
2021 2020 2021 2020
GBPm GBPm GBPm GBPm
(i) Rathbone Investment Management
(excluding Saunderson House)
Opening FUMA (1 October / 1 January) 48,759 41,763 44,912 42,965
Total inflows 1,043 915 4,544 3,915
-------------------------------------- -------- ------- -------- --------
Organic new business 1,001 849 4,415 3,329
Acquired new business(1) 42 66 129 586
-------------------------------------- -------- ------- -------- --------
Outflows (956) (965) (3,618) (3,308)
Market effect and investment
performance 1,406 3,199 4,414 1,340
-------- ------- -------- --------
Closing FUMA (31 December)(2) 50,252 44,912 50,252 44,912
-------- ------- -------- --------
Annualised rate of net organic
growth 0.4% (1.1%) 1.8% 0.1%
Total annualised net organic
and acquired growth 0.7% (0.5%) 2.1% 1.4%
(ii) Rathbone Funds
Opening FUM (1 October / 1 January) 12,143 8,730 9,820 7,438
Inflows 1,089 1,024 4,359 3,574
Outflows (606) (474) (2,283) (2,076)
Market effect and investment
performance 364 540 1,094 884
-------- ------- -------- --------
Closing FUM (31 December) 12,990 9,820 12,990 9,820
Annualised rate of net organic
growth 15.9% 25.2% 21.1% 20.1%
(iii) Total Group FUMA
Rathbone Investment Management
Gross FUMA 52,935 47,075
Of which: discretionary wrapped
funds(3) (2,683) (2,163)
-------- --------
50,252 44,912
Rathbone Funds 12,990 9,820
Saunderson House 4,917 -
-------- --------
Closing FUM (31 December) 68,159 54,731
-------- --------
1 Acquired new business is defined as corporate or team acquisitions.
2 Includes Greenbank funds of GBP2.3 billion (31 December 2020:
GBP1.9 billion) and funds managed with a charitable mandate of
GBP7.1 billion (31 December 2020: GBP6.5 billion).
3 Holdings of our own funds within Rathbone Investment
Management portfolios and funds where the management of the assets
is undertaken by Rathbone Investment Management teams.
Investment Management: Service level breakdown of FUMA
31 31
December December
2021 2020 2021 Net in/(out)flow(5) 2020 Net in/(out)flow(5)
GBPm GBPm GBPm % GBPm %
------------------------ ---------- ---------- ----------- -------------- ------------ -------------
Direct 37,738 33,678 571 1.7% 761 2.5%
Financial Adviser
linked 10,988 9,347 616 6.6% 119 1.4%
------------------------ ---------- ---------- ----------- -------------- ------------ -------------
Total Discretionary
FUMA 48,726 43,025 1,187 2.8% 880 2.2%
Non-Discretionary
Investment Management 1,026 1,392 (160) (11.5%) (100) (4.0%)
Execution Only 3,182 2,658 (101) (3.8%) (173) (7.2%)
------------------------ ---------- ---------- ----------- -------------- ------------ -------------
Gross Rathbone
Investment Management
FUMA 52,935 47,075
Discretionary
wrapped funds(4) (2,683) (2,163)
------------------------ ---------- ---------- ----------- -------------- ------------ -------------
Total Investment
Management FUMA 50,252 44,912 926 2.1% 607 1.4%
------------------------ ---------- ---------- ----------- -------------- ------------ -------------
4 Holdings of our own funds within Rathbone Investment
Management portfolios and funds where the management of the assets
is undertaken by Rathbone Investment Management teams.
5 Excludes intra-service level transfers and market effect and investment performance.
11 January 2022
For further information contact:
Rathbones Group Plc
Paul Stockton, Chief Executive
Jennifer Mathias, Group Finance Director
Shelly Patel, Head of Investor Relations
Tel: 020 7399 0071
email: shelly.patel@rathbones.com
Camarco
Ed Gascoigne-Pees
Julia Tilley
Tel: 020 3757 4984
email: ed.gascoigne-pees@camarco.co.uk
Rathbones Group Plc
Rathbones provides individual investment and wealth management
services for private clients, charities, trustees and professional
partners. We have been trusted for generations to manage and
preserve our clients' wealth. Our tradition of investing and acting
responsibly has been with us from the beginning and continues to
lead us forward. Our ambition is to be recognised as the UK's most
responsible wealth manager.
Rathbones has over 1,900 staff in 15 UK locations and Jersey;
its headquarters is 8 Finsbury Circus, London.
www.rathbones.com
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