Rathbones Group’s funds division has grown assets under management by almost a third during 2021 on the back of “very strong” inflows, according its latest results.
Rathbone Funds ended the year with £13bn AUM up 32.7% from £9.8bn at the end of 2020. Net inflows were £2.1bn for the year representing an organic growth rate of 21.1%. In the previous year, total net inflows were £1.5bn with an organic growth rate of 20.1%.
AUM growth was also strong across the group, which ended the period with £68.2bn, up 24.7% from £54.7bn at the end of 2020, buoyed by the acquisition of Saunderson House, which brought in £4.9bn. The £50.3bn investment management industry grew 12% from £44.9bn in December 2020.
Rathbones said it remained 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”.
Rathbones announced it was acquiring Saunderson House for £150m in June 2021.
See also: Rathbones hires Sanlam co-founder as final CIO to replace Julian Chillingworth