Net platform sales fell to their lowest levels since RDR in Q3 at £8.6bn, as the UK's uncertain outlook "made investors extremely cautious", according to the latest Fundscape Platform Report.
Despite a rise in UK platform industry assets by 9% over the period to £469bn, sales were weak in the third quarter. Gross sales fell to £21bn, or their lowest volume since Q3 2014, while net sales plummeted to £8.6bn; the lowest since Q1 2013. According to the Fundscape Platform Report, the third quarter of any year is "usually the quietest" but this year's flows were lower than expected. Bella Caridade-Ferreira, CEO of Fundscape, said: "Stockmarkets were soaring, but the UK's uncertain economic outlook made investors extremely cautious with their investments." However, asset g...
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