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(Alliance News) - IntegraFin Holdings Ltd on Tuesday reported a rise in funds under direction over the third quarter of the investment manager's financial year, driven by positive equity markets.
As at June 30, the London-based company's funds under direction stood at GBP50.31 billion, up 26% from GBP39.71 billion the same date a year before and 7.2% from GBP46.93 billion as at April 1.
IntegraFin recorded GBP1.99 billion in fund inflows during the third quarter, up 62% from GBP1.23 billion, while outflows rose to GBP657 million from GBP428 million.
Positive market movements meanwhile added GBP2.11 billion, down 47% from GBP3.96 billion a year prior.
"With our highest ever third quarter gross inflows, the strong growth seen in the first half of our financial year has continued. Outflows remained in line with the previous quarter, resulting in record third quarter net inflows. A comparison with the same period from the prior year is distorted by the impact of Covid-19, however, in comparison to the third quarter 2019, net flows have increased at an annual rate of 30%," said Chief Executive Officer Alex Scott.
"Equity markets remained positive over the quarter and this also contributed to FUD passing GBP50 billion for the first time," Scott added.
Shares in IntegraFin were up 2.6% at 517.75 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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