IntegraFin pleased with growth amid uncertain trading climate
IntegraFin Holdings updated the market on the funds under direction under its financial platform ‘Transact’ for the third quarter on Tuesday, with the closing figure rising to £36.35bn, from £31.88bn a year earlier.
The FTSE 250 firm said inflows during the three months ended 30 June totalled £1.39bn, down from £1.45bn year-on-year, while outflows widened to £592m from £487m.
That made for net positive flows of £796m, compared to £959m a year earlier.
Market movements during the period were reported as a positive £1.18bn, broadly in line with the £1.14bn net positive market movements seen in the third quarter of 2018.
Other movements were reported as a negative £30m, swinging from a positive $43m in the prior comparative period.
“I am pleased to report again that, despite persistent political and economic uncertainties, funds under direction have grown well,” said IntegraFin chief executive officer Ian Taylor.
“Net flows, although lower, proved resilient and market growth in the quarter contributed to the overall increase.
“The business is well positioned as we continue to grow assets and pleasingly our costs are modestly below our initial expectations for the current year.”