A Liverpool-based wealth management giant has reported a "resilient" performance in what it called an "immensely challenging year".
In full-year results to December 31 published on Thursday, Rathbone Brothers said the total funds under management and administration was £54.7bn for the year - up 8.5% from the previous year's £50.4bn.
That total for 2020 included £44.9bn in the investment management business, up 4.4%, while there was £9.8m in the funds business - up 32.4%.
Total net inflows across the group were £2.1 billion - up from 2019's £0.6bn, representing a growth rate of 4.2% for the firm, which is based at the Port of Liverpool Building at Pier Head.
Paul Stockton, chief executive, said: "Rathbones delivered a resilient performance in an immensely challenging year.
"We continued to deliver a high-quality service to clients, whilst prioritising the safety and wellbeing of our employees, advancing our strategy and keeping a close eye on operating costs."
Elsewhere in the results released to the markets on Thursday, underlying profit before tax increased by 4.3% to £92.5m, delivering an underlying operating margin of 25.3% - consistent with the prior year despite lower investment markets.
Mr Stockton said as a consequence, the board is announcing a final 2020 dividend of 47p per share, which brings the total dividend to 72p per share - an increase of 2.9% over 2019.
Mr Stockton added: "Whilst we expect 2021 to remain volatile, our balance sheet is robust with a strong capital position. Our near-term focus is to execute our growth strategy, to build our market share, to balance ongoing investment in the business, and to continue to apply strict cost discipline.
"Rathbones will emerge stronger after the challenges of the pandemic begin to subside.”
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