Platform assets rise £10bn in Q3

clock • 1 min read

Platforms saw the rate of assets under administration (AUA) growth jump by almost a fifth in the third quarter of 2014, according to research from Fundscape.

Total platform assets rose £9.7bn to £326.4bn - a rise of 3.2% on the previous quarter but 19.3% on Q3 2013. However, while net sales were higher than at the same time in 2013, they were also down 15% on the previous quarter. The new ISA allowance resulted in a strong uptick in ISA flows. Direct to consumer giant Hargreaves Lansdown was the most popular platform, according to Fundscape estimates, with net sales of £1.5bn. Cofunds and Fidelity were second and third for net sales, respectively. Fundscape chief executive Bella Caridade-Ferreira said: "The third quarter is tradition...

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