LIVERPOOLŠprivate wealth manager Rathbone Brothers has attracted almost £300m of new funds in the third quarter.

In a trading update today the Port of Liverpool-based business revealed that total funds under management stood at £15.1bn by September 30.

This was down 3.2% on levels at December 31, 2010, but compared with a 13.1% decrease in the FTSE100 Index in the first nine months of 2011.

The underlying annual rate of net organic growth of funds in Rathbone Investment Management was 4.6% for the quarter to September 30, compared with 5.7% in 2010, and 6.2% for the nine months to the end of September, against 4.6% the year before.

Net interest and other income of £9.7% was achieved in the first nine months, while Rathbone Unit Trust Management experienced a fourth consecutive quarter of net inflows, attracting £62m in the nine month period to September 30.

Chief executive Andy Pomfret said today: “Rathbones’ tailored and flexible approach to investment management continues to be attractive to clients, in spite of the considerable market uncertainties.

“The total net inflow of funds under management in Rathbone Investment Management was £284m in the three months ended September 30.

“We expect markets to remain nervous for the remainder of 2011 as inflation expectations and European sovereign debt uncertainties continue to dominate the headlines.

“Despite this, our brand and commitment to client service continues to position us well to grow as a leading provider of high quality personalised discretionary investment services.”

Rathbone Brothers dates back to 1742 when William Rathbone II set up a sawyer business and timber trading company in Liverpool.

Today it employs 330 staff at its Liverpool offices and operates a global office network.