Rathbones’ funds under management and administration (FUMA) increased in 2025, despite continued net outflows, its fourth quarter update has revealed.

The wealth and asset management firm reported that its FUMA increased by 5.9 per cent over the year to £115.6bn at the end of December, including a £2.6bn increase in the fourth quarter.

In its wealth management segment, FUMA rose by 6.9 per cent year-on-year to £106.2bn, with £3bn of growth in the fourth quarter of 2025.

FUMA in Rathbones’ asset management segment rose by 5.1 per cent to £16.6bn over the year, including £0.8bn of growth in Q4.

The figures included £7.2bn of wealth management FUMA that were invested in the asset management segment, up from £5.9bn the previous year.

Despite the improvement in FUMA, Rathbones’ net outflows totaled £0.5bn in the fourth quarter, up from £0.3bn in Q4 2024.

Net outflows in its wealth management were £64m in Q4 2025 compared to £180m in the fourth quarter of 2024.

However, Rathbones’ asset management segment moved from net inflows of £41m in Q4 2024 to outflows of £93m in Q4 2025.

These figures included £307m of wealth management inflows that were invested in the asset management segment, up from £125m the previous year.

"I am grateful to my colleagues for their extraordinary efforts in 2025 in integrating Rathbones and Investment Wealth & Investment UK,” commented Rathbones group chief executive officer, Jonathan Sorrell.

“As that process approaches its conclusion, our opportunity now is to take advantage of our core strengths to grow the business organically over time.

“We have fantastic people, strong client relationships and the scale to invest in our capabilities. Our focus remains on serving our clients exceptionally well."

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