(Alliance News) - IntegraFin Holdings PLC on Tuesday reported its "highest ever" quarterly inflows, resulting in a rise in funds under direction.
As at March 31, the investment platform reported GBP46.93 billion in funds under direction on its Transact platform, an increase of 19% from GBP39.31 billion reported at the same date the previous year.
Gross inflows in the period totalled GBP2.15 billion, up 27% from GBP1.70 billion the prior year, while net flows increased 33% to GBP1.47 billion from GBP1.10 billion.
Market movements were positive GBP694 million, swung from negative GBP5.43 billion a year before.
"I am pleased to report that in our second quarter we achieved our highest ever quarterly inflows, both gross and net. Compared with our second quarter last year, our previous highest, gross inflows increased 27%. Outflows increased broadly as expected in line with FUD, and net inflows consequently were 33% higher," said Chief Executive Alex Scott.
"The strength of inflows reflects not only a strong tax year-end performance, but also advisers' positive reaction to price reductions announced in December and our continuing delivery of quality service."
Shares in IntegraFin were up 6.2% at 579.50 pence in London on Tuesday.
By Zoe Wickens; zoewickens@alliancenews.com
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IntegraFin Holdings (IHP)