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(Alliance News) - IntegraFin Holdings PLC on Tuesday reported a 14% rise in third-quarter funds under direction and said that outlook for the final quarter of financial 2020 is "obviously heavily dependent upon the economic effects of the measures being taken to combat Covid-19" and their impact upon markets and fund flows.
Shares in the investment management company were up 3.7% at 535.00 pence each in London.
Chief Executive Officer Alex Scott said: "Despite the very challenging conditions of the past few months, I can report that net inflows in the last quarter matched those of the same period last year and funds under director reached their highest ever end of quarter level."
At the end of three months to June 30, the company's funds under direction stood at GBP39.71 billion, up 14% from GBP36.35 billion a year ago. Year-to-date, funds under direction increased 5.1%.
London-based IntegraFin recorded GBP1.23 billion in fund inflows during the third-quarter, down from GBP1.39 billion a year ago. Outflows amounted to GBP428 million versus GBP592 million.
Positive market movements added GBP3.95 billion to funds under direction, up sharply from GBP1.18 billion a year ago.
By Tapan Panchal; tapanpanchal@alliancenews.com
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