20th Oct 2020 10:12
(Alliance News) - IntegraFin Holdings PLC said Tuesday it ended financial 2020 with higher funds under direction than the year before but noted its fourth quarter was "difficult and unpredictable".
At September 30, the investment platform held GBP41.09 billion in funds under direction, compared to GBP37.80 billion at the same point a year before - representing an 8.7% rise.
Chief Executive Alex Scott said: "Our 2020 financial year ended on September 30. During the second half, the operating environment was difficult and unpredictable for us, for our clients, and for their advisers - and this seems likely to remain the case in the coming months."
Transact - Integrafin's investment platform - started the fourth quarter with GBP39.71 billion in funds under direction. During the three months to September 30 the platform recorded GBP731 million in net inflows, with market movements adding a further GBP690 million in funds.
Over the 12-month period, Transact saw GBP3.59 billion in net inflows, but market movements shaved GBP224 million off funds.
Scott continued: "Nevertheless, and in no small part due to the resilience and dedication of all involved, I am pleased to report robust flows.
"Compared to our 2019 financial year, gross and net inflows held their own and we ended the year with our highest ever level of funds under direction," he added.
Shares in IntegraFin Holdings were 0.2% higher in London on Tuesday at 506.00 pence each.
By Paul McGowan; [email protected]
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