Platform Transact has reported record inflows for H1 of the 2022 financial year, surpassing £4bn of for the first time, however, funds under direction reduced overall.
In a trading update released on Wednesday (20 April) it also said its net inflows for H1 were its best ever at £2.7bn, an increase of 16% on the comparative period in 2021. The platform added its funds under direction were £53.5bn as at 31 March 2022, representing a decrease of 1.9% over the quarter. It pointed out that over the same period, the MSCI World Index (Large & Mid Cap) fell by 3.8%. Chief executive Alex Scott said: "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 th...
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