Rathbone unit trusts suffer £230m net outflow in '09

clock

Rathbone Unit Trust Management suffered a £230m net outflow in 2009, taking its total funds under management down to £940m at 31 December.

Andy Pomfret, Rathbone Brothers chief executive, attributed the decline to a period of poor performance for the group. He says the retail business continued to experience net outflows, primarily in the first half of 2009. Carl Stick's Rathbone Income fund reduced in size from £544m to £503m over the twelve months, despite the vehicle climbing 23.5% over the period. "Towards the end of 2009 we have seen some signs of improvement, although it will take a while to rebuild momentum," Pomfret says. "Mike Webb joined us in February 2010 and will be taking over as chief executive of Rathb...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

PA Awards 2025: Why MyFolio Index came out top as Best Risk Targeted Range of Funds

PA Awards 2025: Why MyFolio Index came out top as Best Risk Targeted Range of Funds

Aberdeen Investments Senior Investment Director and Head of Managed & Model Solutions Justin Jones shares what sets MyFolio Index apart following its Best Risk Targeted Range of Funds award win at the Professional Adviser Awards 2025.

Professional Adviser
clock 19 August 2025 • 3 min read
Woodford IM hits back at FCA's enforcement action including £46m in fines

Woodford IM hits back at FCA's enforcement action including £46m in fines

WIM said it 'strongly disagrees' with the regulator's decision

Cristian Angeloni
clock 05 August 2025 • 3 min read
Regulator bans and fines Neil Woodford and Woodford IM £46m

Regulator bans and fines Neil Woodford and Woodford IM £46m

Woodford has appealed the decision to the Upper Tribunal

Cristian Angeloni
clock 05 August 2025 • 3 min read