17 August 2022

Paul Stockton, Group Chief Executive, said:

“We set out our focused strategy over two years ago and it has driven some considerable and positive changes within the business over that period. It is clear from the results we are publishing today that Rathbones is building strong organic growth momentum, complemented by value-added acquisitions, which has led to total funds under management and advice (FUMA) growth of 24.7% to £68.2 billion in the year.

Our financial results for 2021 are strong and include meaningful investments that are enabling further strategic progress. Statutory profit before tax of £95.0 million is up 116.9% on the £43.8 million reported a year ago. The business ends 2021 in good health and our confidence in the future is reflected in our full-year dividend of 81p, up 12.5% from 72p last year. This financial outcome gives us a strong platform to enter the next phase of our strategy which will further leverage technology to deliver a holistic digital experience to clients, advisers and colleagues, and harness efficiency opportunities.

After a decade of significant growth, the Rathbones of today offers a holistic range of wealth management and advice services, complemented by a high-quality fund management business; our December 2021 announcement to rename the company to Rathbones Group Plc reflects this.”

Financial highlights

  • Total FUMA reached £68.2 billion at 31 December 2021, up 24.7% from £54.7 billion at 31 December 2020:
    • £50.3 billion in Investment Management (excluding Saunderson House), up 12.0% (2020: £44.9 billion).
    • £4.9 billion of Saunderson House FUMA following completion of the acquisition in October 2021.
    • £13.0 billion in Rathbone Funds, up 32.7% (2020: £9.8 billion).
  • In 2021, we enhanced our reporting capability to represent more closely the way we deliver our products and services:
    • Discretionary service net inflows totalled £1.3 billion in the year (2020: £1.0 billion), while inflows into our multi-asset fund range totalled £0.5 billion (2020: £0.2 billion). Total discretionary and managed net inflows therefore were £1.8 billion (2020: £1.2 billion), representing an annualised growth rate of 4.1% (2020: 2.9%), demonstrating growing momentum in both direct-to-client business and the indirect financial adviser market.
    • Net flows into our single strategy fund range grew by 20.0% year-on-year to £1.2 billion (2020: £1.0 billion).
    • In total, Rathbone Funds generated net inflows of £2.1 billion (2020: £1.5 billion), an exceptional growth rate of 21.1% (2020: 20.1%).

 

Read the full statement here

 

For further information contact:

Rathbones Group Plc

Tel: 020 7399 0000
email: shelly.patel@rathbones.com

Paul Stockton, Chief Executive
Jennifer Mathias, Group Finance Director
Shelly Patel, Head of Investor Relations

Camarco

Tel: 020 3757 4984
email: ed.gascoigne-pees@camarco.co.uk

Ed Gascoigne-Pees
Julia Tilley