Rathbones maintains positive flows in H1 as profits decline

Profits at London manager dropped to £50m, down from £62.9m in June last year, as market volatility hit investor sentiment. Funds under management closed the period at £58.9bn, down from £59.2bn in June 2021, with assets in its funds business falling from £11.4bn to £10.9bn.  Comparatively, the MSCI PIMFA Private Investor Balanced index fell 10% in the six-months to June.   Funds under management in Rathbones' investment management business also declined, from £47.8bn to £43.8bn. The results come as a record number of wealth and asset managers report a decline in profits and ass...