Rathbones maintains positive flows in H1 but profits decline

Profits drop to £50m

Rathbones is the latest manager to see falling profits in the first half of the 2022 financial year, though it managed to maintain inflows amid a volatile market environment.

Profits at the 280-year-old asset manager dropped to £50m, down from £62.9m in June last year, as market volatility hit investor sentiment. Total funds under management across the group closed the period at £58.9bn, down from £59.2bn in June 2021, with assets in its funds business falling from £11.4bn to £10.9bn.  AJ Bell platform assets drop amid adverse market conditions Funds under management in Rathbones' investment management business also declined, from £47.8bn to £43.8bn. The results come as a record number of wealth and asset managers report a decline in profits and asse...