Rathbones funds under management fall on market movement in 2022

(Alliance News). Rathbones Group PLC stated Wednesday that its funds for 2022 had been negatively affected by market movements. According to the London-based investment manager, funds under management and administration decreased by GBP60.2 billion as of December 31, 12% less than GBP68.2 million a year ago. FuMA in Investment Management fell 10% to GBP45.1billion from GBP50.3billion a year earlier. Net inflows decreased by 28% to GBP1.3billion from GBP1.8billion during 2022. The company stated that, "While economic uncertainty is expected to prevail into 2023," it will continue to be focused on client engagement, and delivery of our strategic priorities. Organic growth will be further supported by ongoing investments in our digital capabilities and wider financial planning options. We are well-positioned to take into consideration inorganic growth opportunities because of our strong balance sheet and clear direction. Rathbones shares fell 0.2% to 2,090.00 pence each in London Wednesday afternoon. Written by Tom Budszus, Alliance News journalist Comments and questions to: EMAIL Copyright 2023/All Rights Reserved.