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Rathbone Funds Under Management Rise in First Half on Equities

Aug. 1 (Bloomberg) -- Rathbone Brothers Plc, the U.K. asset manager founded in 1742, reported an 11 percent increase in funds under management in the first half, helped by equity market gains.

Assets rose to 19.9 billion pounds ($30.2 billion) by June 30 from 18 billion pounds on Dec. 31, London-based Rathbone said in a statement today. First-half pretax profit climbed 17 percent to 23.2 million pounds from a year earlier.

“Rathbones’ outlook remains positive,” said Chief Executive Officer Andy Pomfret in the statement. “Our continued focus on client service and controlled investment in people and systems ensures that Rathbones is well placed to take advantage of healthier investment markets.”

The U.K.’s FTSE 100 Index climbed 5.4 percent in the first six months of the year as central banks maintained stimulus measures and U.S. lawmakers agreed on a compromise budget at the start of the year.

To contact the reporter on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editor responsible for this story:

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