Rathbone Brothers Plc, a U.K. money manager founded in 1742, said net operating income rose 12 percent in the first quarter as it attracted more client funds.
Net operating income climbed to 40.1 million pounds ($64.7 million) compared with 35.9 million pounds in the previous three months, the London-based company said in a statement today. Total funds under management rose 6.1 percent to 16.8 billion pounds in the quarter, the company said.
“Whilst investment markets are expected to remain uncertain, Rathbones is as well placed as ever to develop future growth opportunities,” said Chairman Mark Nicholls.
Private-client fund managers, including Rathbones, may be attracting funds from customers looking for better returns than they can get on deposits with interest rates at record lows as the euro-region economies face the debt crisis.