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Rathbones Group PLC on Thursday said funds under management & administration, inflows and other figures declined in the first quarter, which saw ‘considerable market turbulence’. Shares in Rathbones were down 1.8% at 1,610.00 pence in London on Thursday afternoon. FUMA totalled £104.05 billion at March 31, down 4.7% from £109.16 billion at December 31, which ‘reflected market volatility’. Gross inflows for the quarter ended March 31 decreased to £2.7 billion from £3.2 billion in the fourth quarter, while outflows rose to £3.5 billion from £3.4 billion. Net inflows for RIM discretionary & managed propositions ‘remained positive’ at £62 million, down on-quarter from £395 million, while net outflows in Investec Wealth & Investment UK ‘remained consistent’ by rising to £425 million from £409 million. Single strategy funds within the Asset Management segment saw net outflows increase to £265 million from £98 million, as Asset Management ‘was already facing a challenging market for active managers’ and the funds ‘were further affected by recent market turmoil’. Rathbones said its total operating income ‘remained resilient’ despite ‘the challenging market backdrop’ at £220.1 million for the quarter, down 1.6% from £223.6 million. ‘While there was a decline in fee-based income, this was primarily driven by market volatility at the time of client billing,’ the London-based investment and wealth manager explained. Rathbones will announce its first-half results on July 30. ‘Rathbones reached a major milestone in April 2025, successfully migrating 90% of Investec Wealth & Investment client accounts onto the Rathbones platform,’ commented Group Chief Executive Officer Paul Stockton. ‘This marks significant progress in the integration of IW&I and, while there is still work to do, the group remains on track to complete the migration of remaining clients by the end of the second quarter as planned. ‘In a quarter that witnessed some considerable market turbulence, the group saw net outflows, primarily due to a lower level of gross inflows as the final stages of the migration process impacted IW&I in particular,’ he continued. ‘Rathbones Asset Management’s single strategy funds and multi-asset funds saw elevated outflows as a result of ongoing market volatility. This reflected the broader industry trend of weaker flows into equity, fixed interest and multi-asset funds, with flows leaning more towards money-market funds in the quarter.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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