24th Apr 2019 08:48
LONDON (Alliance News) - Investment platform IntegraFin Holdings PLC said Wednesday its funds under direction showed "strong" growth in the first half, with positive market movements in the second quarter driving funds higher.
At March 31, IntegraFin's funds under direction stood at GBP34.41 billion, 16% higher compared to GBP29.74 billion a year ago.
The company's funds under direction at March 31 represented 3.9% and 8.7% growth compared to its opening funds under direction for the half and second quarter, respectively.
The company opened the half with GBP33.11 billion in funds under direction and opened the second quarter with GBP31.65 billion in funds under direction.
The company's net inflows in the first half were down 16% to GBP1.81 billion compared to GBP2.16 billion in the corresponding period a year earlier.
Over the half year, IntegraFin reported negative market movements of GBP515 million, worsened from the negative GBP319 million in the first half last year.
In the first quarter, the company reported GBP2.34 billion in negative market movements but saw positive movements of GBP1.82 billion in the second quarter.
"I am pleased to report that funds under direction have shown strong growth, reflecting positive net flow growth in the quarter and the upward movements in world equity markets. Political and economic uncertainties have not gone away, however, and still give rise to unhelpful background noise," said Chief Executive Ian Taylor.
IntegraFin is expected to release its half year results on May 17.
Shares in IntegraFin were down 0.3% Wednesday morning at 386.85 pence each.
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IntegraFin Holdings