14th Jan 2025 11:35
(Alliance News) - IntegraFin Holdings PLC on Tuesday said the UK autumn statement had a "minimal impact" on net flows in October as its technological investment boosted first quarter performance.
The London-based investment platform operator said first quarter net inflows to its Transact platform multiplied on-year to GBP920 million from GBP268 million, representing 5.7% of opening funds under direction for the annualised quarter.
Chief Executive Alex Scott noted that the inflows reflect the firm's investment in its digitalisation of the platform which contributed to an "ongoing appeal to clients and advisers".
Its shares rose 6.1% to 341.00 pence on Tuesday morning in London.
FUD for the Transact platform experienced a "record quarter" according to the firm, up 14% on-year to GBP65.9 billion from GBP58.0 billion.
Average daily FUD levels also reached record highs, up 18% on-year to GBP65.5 billion from GBP55.5 billion, with Scott adding that they were "supported by global equity markets buoyed by the outcome of the US election in November."
Scott continued: "We are pleased that the Transact platform has delivered an excellent start to the new financial year, building on the strong momentum seen in H2 FY24.
"This quarter also saw the platform's highest ever gross inflows of GBP2.4 billion, as advisers were attracted to our market-leading service and continued functionality enhancements.
"Furthermore, uncertainty in anticipation of the UK autumn budget led to heightened client activity in October. This affected both inflows and outflows but resulted in minimal impact on net flows in that month.
"Long-term structural growth drivers for the UK adviser platform market remain positive, and IHP's market-leading proposition puts us in a strong position to capitalise on future growth."
By Christopher Ward, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.