Rathbones maintains positive flows in H1 as profits decline

Profits drop to £50m

clock • 2 min read

Rathbones is the latest manager to report profits had declined in the first half of the 2022 financial year, though it managed to maintain inflows amid a volatile market environment.

Profits at London manager dropped to £50m, down from £62.9m in June last year, as market volatility hit investor sentiment. Funds under management closed the period at £58.9bn, down from £59.2bn in June 2021, with assets in its funds business falling from £11.4bn to £10.9bn.  Comparatively, the MSCI PIMFA Private Investor Balanced index fell 10% in the six-months to June.   Funds under management in Rathbones' investment management business also declined, from £47.8bn to £43.8bn. The results come as a record number of wealth and asset managers report a decline in profits and ass...

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 Markets

Market Movers: New govt should make UK equities 'attractive'

Market Movers: New govt should make UK equities 'attractive'

‘Government’s priority should be to make UK equities more attractive’

Professional Adviser
clock 05 July 2024 • 1 min read
Bank of England holds rates at 5.25% in final pre-election decision

Bank of England holds rates at 5.25% in final pre-election decision

'The MPC would not want to be perceived as politicking'

Cristian Angeloni
clock 20 June 2024 • 1 min read
Inflation officially back to Bank of England's target level of 2%

Inflation officially back to Bank of England's target level of 2%

Data shows a 2% year-on-year fall ‘in line with consensus expectations’

Hope Coumbe
clock 19 June 2024 • 2 min read