Rathbone Brothers within reach of £40bn FUM as five-year plan nears end

Investment management arm up 3.9%

Rathbone Brothers has reported an increase of total funds under management (FUM) of 14.3%, allowing it to reach a new high of £39.1bn, just shy of its £40bn target set in 2014 for the end of this year.

The group's total FUM rose by 14.3% over the year to 31 December, during which time the FTSE 100 index climbed 7.6% and the MSCI WMA Private Investor Balanced index was up 7.2%. This means Rathbone Brothers is well on its way to achieving its goal of reaching £40bn by the end of 2018, a mission that was set out during its five-year strategy put together in 2014. Rathbone's unit trust inflows double in Q3 Mark Nicholls, chairman of the group, said: "Accepting that investment markets have been favourable, we are now well within sight of that goal with many of our strategic initiative...