Russell Lynch: Optimistic Rathbone no longer cautious

Outlook Signs of life in the City?

Rathbone, the august wealth manager which traces its history back to 1742, is optimistic about the outlook for shares this year after a market-beating 13.4 per cent rise in funds it manages in 2012.

The FTSE 100 index finally starts with a six while funds under management are approaching £18bn.

"For the last five years, we have said we are cautiously optimistic," jokes chief executive Andy Pomfret. "This year, we are confident enough to drop the word cautious," he adds.