Rathbone Brothers, a provider of discretionary fund and wealth management services, reported profits before tax fell by 9.5% to £42.8m in 2008, down from £47.3m the previous year.
Its operating income from continuing operations also decreased by 2% to £131.8m, compared to £134.5m in 2007. However, the underlying rate of net organic growth of funds under management in Rathbone Investment Management was 7.4% in 2008. Including acquisitions, net inflows totalled £1.3bn; a growth rate of 11%. Chief executive Andy Pomfret, comments: "Rathbones is prospering in a difficult environment. Our core business, Rathbone Investment Management, continued to attract new funds under management in 2008 despite the turmoil across financial and investment markets. We are proposing a 4...
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