Nucleus profits leap 46% on swelling AUA

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Nucleus has boosted assets under administration by 25% year-on-year in the third quarter after a strong summer for gross inflows.

The wrap reported AUA of £7.5bn at the end of the quarter. Net inflows for Q3 were £378m and gross inflows £513m. Gross inflows for the nine months to the end of September rose 15% on the same period last year, totalling £1.5bn. Operating profits also jumped by 46%, to £1.9m. This was in part thanks to a 25% rise in turnover during the quarter, compared to the same time last year. The growth comes after a strong summer for Nucleus, including a record July for gross inflows. Chief executive David Ferguson said the firm is “well placed” to grow market share in 2015: “I am proud we ha...

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