19th Jan 2021 09:43
(Alliance News) - IntegraFin Holdings PLC on Tuesday continued to break its own records, reporting its "highest ever" first quarter gross inflows, leading to a rise in funds.
As at December 31, the FTSE 250 investment platform reported GBP44.82 billion in funds under direction on its Transact platform, a 9.1% increase from GBP39.31 billion reported at the same date the year before.
Net inflows in the period totalled GBP840 million, down 12% from GBP959 million the prior year, while gross inflows increased by 2.6% to a record GBP1.58 billion from GBP1.54 billion.
Far outweighing flows, positive market movements increased fivefold year-on-year to GBP2.94 billion from GBP561 million.
"With our highest ever first quarter gross inflows, we had a strong start to our financial year. Outflows increased broadly as expected in line with FUD and net flows were consequently 15% higher than in the previous quarter," said Chief Executive Officer Alex Scott.
"Equity markets reacted positively to encouraging news on the development of Covid-19 vaccines as well as the outcome of the US election result, and this also contributed to the 14% increase in FUD over the same point last year," Scott added.
Shares in IntegraFin Holdings were up 1.6% at 563.00 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
IntegraFin Holdings