Rathbones sees inflows return to fund arm

Rathbone Unit Trust Management saw net inflows in the first quarter of 2011, reversing a recent trend of withdrawals and helping boost funds under management to £1.06bn.

The group, which boasts managers including income veteran Carl Stick, said it saw net inflows of £17m into unit trusts, compared to outflows of £42m in the first quarter of 2010. Net operating income also rose to £2m in the quarter, rising 5.3% from £1.9m in 2010. Mark Powell, outgoing chairman of parent Rathbone Brothers, said: "Despite a particularly uncertain economic environment, Rathbones has achieved excellent growth in funds under management during the first quarter of this year." Rathbone Brothers saw total funds under management rise 2.6% in the first quarter to £16.04bn, ...