Arbuthnot grows funds under management pre-budget uncertainty

Funds under management grew by almost a quarter for Arbuthnot’s wealth management arm to £2.5bn in the 12 months to September 30.

The group’s third quarter trading update, published yesterday (October 23), show funds under management and administration grew by 5 per cent in the three months to the end of September.

And inflows for te three months were £88mn, with net inflows for the year at £191mn.

However the company said uncertainty ahead of the Autumn Budget has dampened sentiment, particularly in residential and private equity markets, both sources of business for the group.

The results said: “The uncertain economic outlook has meant that lending markets have continued to observe thin volumes of business with lenders aggressively competing for transactions by offering low rates.”