Rathbones' inflows halve in H1 as investors retreat from funds

Rathbones Unit Trust Management has seen its inflows more than halve compared to last year, reflecting a trend for outflows in the industry as a whole.

The asset management arm of Rathbone Brothers has seen a drop in net inflows from £338m in 2014 to £107m in the first half of 2015, while redemptions were up to £335m from £205m the previous year. Despite this, AUM in this part of the business continued to grow, up to £2.7bn from £2.5bn at the end of last year, and underlying operating income was up 37%. However, the group said the inflows reflect "a relatively strong performance" when compared to an industry-wide trend for outflows across all the sectors in which it runs funds. Meanwhile, its parent wealth manager Rathbone Brother...