Platform market back on track after Q4 'blip'

According to Fundscape's platform report, platform AUM increased 9% to £189bn in the first quarter, marking a turnaround from the fourth quarter of 2011 when growth floundered amid volatile markets. Several platforms recorded double-digit growth during the quarter as stock markets staged a recovery. Ascentric and Elevate - which saw assets break through £4bn with rises of 13.2% and 15.2% respectively - were the standout performers. At the other end of the scale, Skandia set a record as assets increased beyond the £40bn mark, albeit at a lower rate of 5.5%. Meanwhile, gross platform...