Rathbones Group's assets under management fell in the latest quarter, as outflows from Sanderson House and Investec Wealth & Investment outweighed positive inflows in its investment management arm.
In a trading update published today (17 October), the firm said group AUM had declined to £108.8bn from £108.9bn at the end of June, as positive investment performance of £459m failed to offset net outflows. The FTSE 250 asset manager saw £561m net outflows in the quarter to 30 September, including £251m from IW&I and £245m from Saunderson House. Rathbones elevates five to investment manager in raft of promotions across the business Rathbones Investment Management attracted £143m net inflows, while the firm's discretionary and managed division saw £147m positive flows. However, ...
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