(Alliance News) - IntegraFin Holdings PLC on Tuesday said it rounded off its financial year with a fall in funds under direction at its Transact investment platform as market movements turned negative.
Funds under direction totalled GBP50.07 billion at September 30, contracting 3.9% from GBP52.11 billion a year earlier, the London-based firm reported.
The company noted that market movements in the year returned negative GBP6.25 billion, swung from positive GBP6.30 billion a year ago. More positively, the number of platform clients rose 7.7% to 224,705 from 208,611.
Looking ahead, Chief Executive Officer Alex Scott cited economic uncertainty alongside stability: "We are mindful of the difficult economic environment and the significant volatility in asset markets, however we expect the performance of the Transact platform to remain robust during the forthcoming financial year, with new clients and advisers joining, and continued resilient flows onto the Transact platform."
IntegraFin Holdings shares were 1.0% higher at 227.60 pence each in London on Tuesday morning.
By Tom Budszus; tombudszus@alliancenews.com
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IntegraFin Holdings (IHP)