(Alliance News) - IntegraFin Holdings PLC on Tuesday said it kicked off its financial year with its best-ever first quarter for net inflows.
The London-based investment platform said funds under direction amounted to GBP54.54 billion on December 31, up 4.7% from GBP52.11 billion at the conclusion of its last financial year on September 30. Annually, funds under direction jumped 22% from GBP44.82 billion.
Gross inflows amounted to GBP1.98 billion in the financial first quarter, while outflows set back FuM by GBP688 million.
This meant that net flows totalled GBP1.29 billion, a first-quarter record for IntegraFin and up 53% from GBP840 million a year earlier.
Net flows in the fourth quarter of the previous financial year were GBP1.31 billion, meaning IntegraFin saw a slight 1.5% quarterly decline in net flows.
"The rate of growth of net inflows in the [first] quarter has been pleasing. However, the prior year quarter was a soft comparator and reflected the continued impact of pandemic response restrictions therefore our expectation is that net inflow growth will now be at normalised levels," Chief Executive Alex Scott commented.
"These results highlight the resilience and strength of our business model, and the growth opportunities for our platform and the addressable adviser market. As I explained at the financial year end, we continue to invest in our people and the continued development of our market leading proprietary software, whilst being mindful of the challenging economic outlook."
IntegraFin shares were 1.0% lower at 522.00 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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IntegraFin Holdings (IHP)