Funds under direction fall for IntegraFin's Transact platform

IntegraFin Holdings issued its quarterly funds under direction update for Transact - its platform providing services to UK clients and their financial advisers - on Tuesday.

The FTSE 250 company said that on 31 December, funds under direction totalled £31.65bn, representing a fall of 4.4% over the quarter.

Over the quarter, the FTSE All Share Index fell by 11.0%, and the MSCI World Index fell by 11.7%, the board noted.

Looking closer at the figures, opening funds under direction totalled £33.11bn, up from £27.93bn a year earlier.

Inflows fell to £1.39bn from £1.46bn, while outflows grew to £509m from £396m, resulting in a fall in net flows to a positive £884m from a positive £1.07bn.

Market movements were a negative £2.34bn, swinging from a positive £734m in the same period a year earlier, while other movements were a negative £10m, growing from a negative £5m.

“I am pleased to report that funds under direction proved generally resilient over the quarter when compared to movements in world equity markets,” said IntegraFin chief executive officer Ian Taylor.

“Inflows and net flows both fell a little from the levels of the previous quarter - but so, also, did outflows.”