LIVERPOOL wealth management group Rathbones recorded an 11% increase in total funds under management of £14.54bn in the nine months to September 30.

That compares with a 2.5% increase in the FTSE 100 Index in the first nine months of 2010.

The Port of Liverpool Building-based business also said that net operating income of £84.8m in Rathbone Investment Management for the nine months was 8% higher than 2009 as higher market levels combined with client portfolios becoming more fully invested.

Funds under management in Rathbone Unit Trust Management increased from £880m at June 30 to £950m at September 30.

Chief executive Andy Pomfret said: “Rathbone Investment Management had a very positive third quarter, with annualised net organic growth in funds under management of 5.7% and fee and commission income benefiting from rising investment markets.

“While the recent equity market rally is welcome, economies remain fragile having yet to face the full effect of deficit reduction plans being implemented by many governments.

“While this presents a mixed outlook for 2011, Rathbones continues to consolidate its position as a leading provider of high-quality, personalised discretionary investment management services and remains well positioned to take advantage of growth opportunities.”