IntegraFin ends year with record funds under direction

IntegraFin updated the market on funds under direction for its financial adviser platform ‘Transact’ on Tuesday, reporting a 3.5% improvement over the fourth quarter to £41.09bn.

The FTSE 250 company said year-on-year growth to the end of the quarter on 30 September was 8.7%.

By comparison, the FTSE All-Share Index decreased by 3.8% over the quarter, while the MSCI World Index rose 2.8%.

During the quarter, net flows were a positive £731m, down from £891m year-on-year, while market movements totalled £690m, rising from £532m a year earlier.

For the year as a whole, net flows improved to £3.59bn from £3.5bn, while market movements were a negative £224m, compared to a positive £1.2bn for the 2019 financial year.

“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,” said chief executive officer Alex Scott.

“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.”

At 0910 BST, shares in IntegraFin Holdings were up 0.6% at 510.02p.