Analyst Views: What did you think of yesterday‘s results?

 
Michael Bow
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ROBIN SAVAGE | CANACCORD GENUITY
Rathbones’ funds under management figure is £100m ahead of our forecasts as net inflows into Rathbone Unit Trust Management (RUTM) were £200m ahead of expectation. This is significant as RUTM’s growth should lift the division’s margins and the momentum should continue into 2014.

DAVID MCCANN | NUMIS
We regard Rathbones as one of the quality names in the wealth management sector and thus we believe it merits a slight premium rating, due to its consistent net inflow record, consistent operating margin of around 30 per cent and significant bias towards recurring fee income.

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