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Rathbone Brothers funds under management up 8.6 pct in H1

Reuters - UK Focus

LONDON, July 24 (Reuters) - UK wealth manager Rathbone Brothers said on Thursday that funds under management (FuM) rose 8.6 percent to 23.9 billion pounds ($40.70 billion) in the first half of the year.

Total (NYSE: TOT - news) net growth in FuM was 1.5 billion pounds, it added in a statement, an annualised growth rate of 14.3 percent compared with 9.4 percent in the same period a year earlier.

The company said its board had recommended a 19 pence interim dividend for 2014, an increase of 5.6 percent on 2013, and added that it expected recent acquisitions to have a positive effect on earnings in 2015. ($1 = 0.5873 British Pounds) (Reporting by Simon Jessop; editing by Nishant Kumar)