Q2 Funds Under Direction Update

Source: RNS
RNS Number : 2575K
IntegraFin Holdings plc
21 April 2020
 

LEI Number: 213800CYIZKXK9PQYE87

 

IntegraFin Holdings plc

Q2 Funds Under Direction update

 

Funds Under Direction ("FUD") Update

 

21 April 2020

 

IntegraFin Holdings plc (the "Company") today announces the quarterly Funds Under Direction update for Transact - the award-winning platform providing services to UK clients and their financial advisers.

 

On 31 March 2020 FUD totalled £34,990 million, representing a decrease of 11.0% over the quarter and an increase of 1.7% over the year. Over the quarter the FTSE All Share Index fell by 26.0% and the MSCI World Index fell by 16.1%.

 

 

Quarter ended

Quarter ended

H1 ended

H1 ended

 

31 March 2020

31 March 2019

31 March 2020

31 March 2019

 

£m

£m

£m

£m

Opening FUD

39,312

31,650

37,799

33,113

Inflows

1,699

1,444

3,234

2,837

Outflows

-596

-518

-1,172

-1,027

Net Flows

1,103

926

2,062

1,810

Market movements

-5,433

1,822

-4,872

-515

Other movements(1)

8

8

1

-2

Closing FUD

34,990

34,406

34,990

34,406

Notes:

 

(1)                   Includes investment income, fees and taxes.

 

Alex Scott, CEO, said:

 

"I can report that in our second quarter we achieved our highest ever quarterly inflows, both gross and net. This follows on from our highest ever first quarter gross inflows in the previous quarter.

 

Despite the substantial, downward movements in world equity markets since mid-February, this strong inflow growth has contributed to a small increase in FUD over the year.

 

My primary concerns are, of course, the welfare of our staff and the maintenance of services to clients. Our staff are currently working from home whilst providing as good a quality service as possible to clients and their advisers. There have been costs involved in implementing these new arrangements - but these should not have a meaningfully detrimental effect on the business or the delivery of Transact.

 

The outlook for the second half of the year is dependent upon the economic effects of measures to combat COVID-19 and their impact upon equity markets, FUD and flows."

 

 

The Company expects to announce half year results on 21 May 2020.

 

 

 

Enquiries

 

Media

 

Lansons

 

Tony Langham

+44 (0)79 7969 2287

Maddy Morgan Williams

+44 (0)79 4736 4578

 

 

Investors

 

Jane Isaac

+44 (0)20 7608 4937

 

IntegraFin Holdings plc                 

Q2 Funds Under Direction update                 

 

Historical Flow and FUD data by quarter

 

 

 

Q1

FY19

£m

Q2

FY19

£m

Q3

FY19

£m

Q4

FY19

£m

Q1

FY20

£m

Q2

FY20

£m

Opening FUD

33,113

31,650

34,406

36,352

37,799

39,312

Inflows

1,393

1,444

1,388

1,475

1,535

1,699

Outflows

-509

-518

-592

-584

-576

-596

Net Flows

884

926

796

891

959

1,103

Market movements

-2,337

1,822

1,180

532

561

-5,433

Other movements(1)

-10

8

-30

24

-7

8

Closing FUD

31,650

34,406

36,352

37,799

39,312

34,990

Notes:

 

(1)                   Includes investment income, fees and taxes.

         


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