Q2 Funds Under Direction Update

RNS Number : 6610I
IntegraFin Holdings plc
20 April 2022
 

LEI Number: 213800CYIZKXK9PQYE87

 

IntegraFin Holdings plc

Q2 Funds Under Direction Update

 

Funds Under Direction Update

 

20 April 2022

 

IntegraFin Holdings plc today announces the quarterly Funds Under Direction (FUD) update for Transact - the award-winning platform providing services to UK clients and their financial advisers.

 

Highlights

 

· We achieved record inflows for H1 of financial year 2022, surpassing £4bn of inflows for the first time.

· Our net inflows for H1 of financial year 2022 were our best ever at £2.7bn, an increase of 16% on the comparative period in financial year 2021.

· Our FUD was £53.5bn as at 31 March 2022, representing a decrease of 1.9% over the quarter. Over the same period, the MSCI World Index (Large & Mid Cap) fell by 3.8%.  

 

 


Quarter ended

Quarter ended

H1 ended

H1 ended


31 March 2022

31 March 2021

31 March 2022

31 March 2021


£m

£m

£m

£m

Opening FUD

54,539

44,824

52,112

41,093

Inflows

2,092

2,153

  4,068

3,734

Outflows

-697

-686

  -1,385

-1,427

Net Flows

1,395

1,467

  2,683

2,307

Market movements

-2,376

694

-1,169

3,632

Other movements(1)

-58

-56

-126

-103

Closing FUD

53,500

46,929

  53,500

46,929

Notes:

 

(1)  Includes fees, taxes and investment income.

 

Alex Scott, CEO, said:

 

I am pleased to report another strong quarter of inflows on to our platform. Our gross inflows for the first half year of the financial year were our best ever at £4.07bn, with outflows remaining low, and lower than the first half of financial year 2021. This resulted in a 16% increase in net inflows for the first half of the financial year 2022 (£2.68bn), compared to the first half of financial year 2021 (£2.31bn).

 

Our net inflows for the quarter (£1.40bn) were 4% lower than the same quarter in financial year 2021 (£1.47bn). However, the net flows for this quarter were impacted by the timing of Easter and the resultant number of days prior to tax year end in April 2022 when compared to the prior year. Overall, these results demonstrate the resilience of our platform business model through different market conditions.

 

Despite strong net inflows, our FUD reduced overall to £53.50bn. This is the result of unexpected, and continuing, geo-political events impacting stock markets. This has a corresponding impact on our revenue.

We are mindful of the challenging economic outlook and the impact of inflationary pressures on our cost base. However, we continue to invest in our people and to develop our market leading proprietary software for the Transact platform and the Time4Advice adviser back office system, in order to deliver the high quality service standards for which we are renowned.

 

We look forward to reporting our half year results on 26 May 2022.

 

 

 

Historical Flow and FUD data by quarter

 


Q3

FY20

£m

Q4

FY20

£m

Q1

FY21

£m

Q2

FY21

£m

Q3

FY21

£m

Q4

 FY21

£m

Q1

FY22

£m

Q2

FY22

£m

Opening FUD

34,990

39,711

41,093

44,824

46,929

  50,310

52,112

54,539

Inflows

1,225

1,291

1,581

2,153

1,994

1,967

1,976

2,092

Outflows

-428

-560

-741

-686

-657

-660

-688

-697

Net Flows

797

731

840

1,467

1,337

1,307

1,288

1,395

Market movements

3,958

  690

2,938

694

2,112

553

1,207

-2,376

Other movements (1)

-34

-39

-47

-56

-68

-59

-68

-58

Closing FUD

39,711

41,093

44,824

46,929

50,310

52,112

54,539

53,500

 

Notes:

 

(1)  Includes fees, taxes and investment income.

 

 

 

Enquiries




Investors


Luke Carrivick

+44 020 7608 5463

 

Media


Lansons


Tim Naylor

+44 (0)79 83612919







 

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