Released: 08 January 2007
8 January 2007
Rathbone Brothers Plc
Trading statement as at 31 December 2006
Trading Update
Rathbone Brothers Plc, a leading provider of discretionary fund
management and wealth management services for private investors and
trustees, is pleased to announce that total funds under management
as at its year end, 31 December 2006, stood at £12.2 billion,
a 14.0% increase over the half year (30 June 2006: £10.7bn)
and a 28.4% increase during 2006 (31 Dec 2005: £9.5bn).
Funds managed by Rathbone Investment Management Limited, the majority of which are discretionary accounts, stood at £10.3 billion, an increase of 24.1% over the 12 months to 31 December 2006. The FTSE/APCIMS Balanced Index, which is the index which most closely reflects the spread of investments held by Rathbone Investment Management clients, rose by 6.8% over 2006 and the FTSE 100 Index rose by 10.7%.
Funds managed by Rathbone Unit Trust Management Limited stood at £1.9 billion, an increase of 58.3% during 2006.
Disposal
On 19 December 2006, Rathbone Investment Management Limited sold to
Butterfield Bank (UK) Limited that part of its UK private banking
business that it purchased in April 2006 alongside an investment
management business. The gross assets transferred comprised a loan
book of £33m. Completion took place on 5 January 2007.
Rathbone Investment Management Limited continues to hold a banking licence and to offer banking services to its investment management and trust company clients including overnight cash and currency accounts, time deposits, loans and overdraft facilities.
Notice of Results
Rathbone Brothers Plc will issue its preliminary results for the
year ended 31 December 2006 on Thursday 1 March 2007 which are
anticipated to be broadly in line with market expectations.
ENDS
| For further information contact: | |
| Rathbone Brothers Plc | 020 7399 0000 (Switchboard) |
| Mark Powell, Chairman | |
| Andy Pomfret, Chief Executive | |
| Emily Morris, Marketing Director | |
| Smithfield | 020 7360 4900 |
| Miranda Good/ Reg Hoare |
Notes for editors:
Rathbone Brothers Plc specialises in providing, through its subsidiaries, personalised investment management and wealth management services for private clients and trustees, including discretionary asset management, tax planning, trust and company management, and banking services. It manages £12.2 billion of funds, including £1.9 billion managed by Rathbone Unit Trust Management (as at 31 December 2006). For existing investment management and trust company clients, Rathbones offers a range of banking services, from overnight cash and currency accounts to time deposits and overdraft facilities.