Printer Friendly

Optimistic Rathbone expects results to be on target.

LIVERPOOL wealth investment firm Rathbone Brothers said it is cautiously optimistic about prospects for 2012, after revealing better trading during 2011.

The firm, based in the Port of Liverpool Building, will release annual results for the year to December 31 on February 21 and said they are expected to be in line with expectations.

Total funds under management were 1.4% ahead at the end of the year on pounds 15.85bn.

Funds under management by Rathbone Investment Management were 1.2% better at pounds 14.76bn, compared with a 5.6% decrease in the FTSE 100 Index over the same period.

And the underlying rate of net organic growth in funds under management in Rathbone Investment Management during the year was 5.4%, compared with 5.3% previously.

The company said it was "cautiously optimistic" about the prospects for 2012 with the UK equity market ending 2011 on a more positive note, adding: "There is no doubt that the uncertainties over Europe persist, but this is balanced by indications that the economic environment is showing small signs of improvement, particularly in the USA."

Liverpool stockbroker Shore Capital announced a "hold" recommendation on Rathbone shares, saying: "The results look robust when set against the backdrop of a volatile 12 months for equity markets which saw the asset management sector as a whole cycling against tough trading conditions. We continue to view Rathbones as a strong long-term hold."
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business
Publication:Daily Post (Liverpool, England)
Date:Jan 11, 2012
Previous Article:Wirral firm marks 500th enterprise milestone.
Next Article:Typhoo brewing plans for growth despite sales fall.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters