Rathbone's funds under management rise 10 pct to $42 bln
(Adds CEO quote, details, shares)
By Nishant Kumar
LONDON, Oct 16 (Reuters) - Rathbone Brothers (LSE: RAT.L - news) ' funds under management (FuM) and operating income rose in the three months to September due to net capital inflows and its recent acquisition of a unit of Jupiter Fund Management.
The UK wealth manager said on Thursday that its FuM rose by a tenth during the quarter to 26.3 billion pounds ($42 billion), as a net 2.5 billion pounds flowed into its investment management arm and unit trusts. Net inflows stood at 449 million pounds during the same period last year.
The acquisition of Jupiter's private client and charity investment business added 1.9 billion pounds to its FuM.
The wealth manager reported a 13.4 percent increase in net operating income to 49 million pounds during the quarter.
"Our outlook remains positive as we respond to the ongoing changes in the industry," Rathbone Chief Executive Philip Howell said.
At 0801 GMT, Rathbone shares were trading flat and in line with the FTSE Mid-cap index.
($1 = 0.6256 British Pounds) (Additional reporting by Clare Hutchison; Editing by Pravin Char)