REG - Rathbones Group PLC - FUMA update and notice of results

RathbonesAnnouncement

11/01/2022 07:05

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RNS Number : 9783X  Rathbones Group PLC  11 January 2022

 

Rathbones Group Plc

 

Funds under management and administration update and notice of results

 

Rathbones Group Plc ("Rathbones") announces a funds under management and
administration (FUMA) update for the year ended 31 December 2021.

 

-    Total FUMA at 31 December 2021 were £68.2 billion, up 24.7% from
£54.7 billion at 31 December 2020, reflecting continuing net inflows,
positive market movement and the acquisition of Saunderson House Limited.

-    £50.3 billion in the Investment Management business was up 12.0% from
£44.9 billion at 31 December 2020. The MSCI PIMFA Private Investor Balanced
Index increased 10.3% over the year.

-    £13.0 billion in Rathbone Funds was up 32.7% from £9.8 billion at 31
December 2020, reflecting very strong net inflows.

-    £4.9 billion of Saunderson House FUMA following completion of
acquisition in October 2021.

 

-    The Investment Management business recorded strong gross inflows of
£4.5 billion for the full year (2020: £3.9 billion). Net organic inflows for
the year totalled £0.8 billion (2020: £nil). Total net inflows of
discretionary FUMA in the year were £1.2 billion (2020: £0.9 billion), which
represents a net growth rate of 2.8% (2020: 2.2%).

 

-    Rathbone Funds recorded £4.4 billion gross inflows for the full year
(2020: £3.6 billion). Net inflows totalled £2.1 billion for the year (2020:
£1.5 billion) representing an organic growth rate of 21.1% (2020: 20.1%).

 

Outlook

Rathbones remains in a strong position to continue delivery of strategic
initiatives, secure the delivery of our ambitions for Saunderson House, and
explore further opportunities to drive growth.

 

Notice of results

Our preliminary statement of annual results for the year ended 31 December
2021 will be published on Thursday, 24 February 2022. A presentation to
analysts will be held on the same day.

 

 

 

 

Funds under management and administration (FUMA)

 

                                                   3 months ended          Year ended

31 December
31 December
                                                   2021      2020          2021      2020
                                                   £m        £m            £m        £m
 (i) Rathbone Investment Management

    (excluding Saunderson House)
 Opening FUMA (1 October / 1 January)              48,759    41,763        44,912    42,965
 Total inflows                                     1,043     915           4,544     3,915
   Organic new business                            1,001     849           4,415     3,329
   Acquired new business(1)                        42        66            129       586
 Outflows                                          (956)     (965)         (3,618)   (3,308)
 Market effect and investment performance          1,406     3,199         4,414     1,340
 Closing FUMA (31 December)(2)                     50,252    44,912        50,252    44,912

 Annualised rate of net organic growth             0.4%      (1.1%)        1.8%      0.1%
 Total annualised net organic and acquired growth  0.7%      (0.5%)        2.1%      1.4%

 (ii) Rathbone Funds

 Opening FUM (1 October / 1 January)               12,143    8,730         9,820     7,438
 Inflows                                           1,089     1,024         4,359     3,574
 Outflows                                          (606)     (474)         (2,283)   (2,076)
 Market effect and investment performance          364       540           1,094     884
 Closing FUM (31 December)                         12,990    9,820         12,990    9,820

 Annualised rate of net organic growth             15.9%     25.2%         21.1%     20.1%

 (iii) Total Group FUMA
 Rathbone Investment Management Gross FUMA                                 52,935    47,075
 Of which: discretionary wrapped funds(3)                                  (2,683)   (2,163)
                                                                           50,252    44,912
 Rathbone Funds                                                            12,990    9,820
 Saunderson House                                                          4,917     -
 Closing FUM (31 December)                                                 68,159    54,731

 

1      Acquired new business is defined as corporate or team
acquisitions.

2      Includes Greenbank funds of £2.3 billion (31 December 2020: £1.9
billion) and funds managed with a charitable mandate of £7.1 billion (31
December 2020: £6.5 billion).

3      Holdings of our own funds within Rathbone Investment Management
portfolios and funds where the management of the assets is undertaken by
Rathbone Investment Management teams.

 

 

 

Investment Management: Service level breakdown of FUMA

                                            31              31              2021 Net in/(out)flow(5)      2020 Net in/(out)flow(5)

                                            December 2021   December 2020
                                            £m              £m              £m             %              £m             %
 Direct                                     37,738          33,678          571            1.7%           761            2.5%
 Financial Adviser linked                   10,988          9,347           616            6.6%           119            1.4%
 Total Discretionary FUMA                   48,726          43,025          1,187          2.8%           880            2.2%
 Non-Discretionary Investment Management    1,026           1,392           (160)          (11.5%)        (100)          (4.0%)
 Execution Only                             3,182           2,658           (101)          (3.8%)         (173)          (7.2%)
 Gross Rathbone Investment Management FUMA  52,935          47,075
 Discretionary wrapped funds(4)             (2,683)         (2,163)
 Total Investment Management FUMA           50,252          44,912          926            2.1%           607            1.4%

4      Holdings of our own funds within Rathbone Investment Management
portfolios and funds where the management of the assets is undertaken by
Rathbone Investment Management teams.

5      Excludes intra-service level transfers and market effect and
investment performance.

 

 

11 January 2022

 

 

 

For further information contact:

 

Rathbones Group Plc

Paul Stockton, Chief Executive

Jennifer Mathias, Group Finance Director

Shelly Patel, Head of Investor Relations

 

Tel: 020 7399 0071

email: shelly.patel@rathbones.com

 

Camarco

Ed Gascoigne-Pees

Julia Tilley

 

Tel: 020 3757 4984

email: ed.gascoigne-pees@camarco.co.uk

 

Rathbones Group Plc

Rathbones provides individual investment and wealth management services for
private clients, charities, trustees and professional partners. We have been
trusted for generations to manage and preserve our clients' wealth. Our
tradition of investing and acting responsibly has been with us from the
beginning and continues to lead us forward. Our ambition is to be recognised
as the UK's most responsible wealth manager.

Rathbones has over 1,900 staff in 15 UK locations and Jersey; its
headquarters is 8 Finsbury Circus, London.

www.rathbones.com

 

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