Transact reports £4bn inflows in H1 as overall funds drop almost 2%

FUD reduces due to geopolitical instability

Jenna Brown
clock • 1 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

AJ Bell's platform AUA reaches £83.7bn as customer numbers rise

AJ Bell's platform AUA reaches £83.7bn as customer numbers rise

Number of platform customers and advised customers rise for AJ Bell

clock 18 July 2024 • 1 min read
Breaking the chain: Assessing and adding value as a distributor

Breaking the chain: Assessing and adding value as a distributor

Advisers support us in trying to improve customer outcomes

Mark Rendle
clock 17 July 2024 • 3 min read
Rosemount links with 7IM giving ARs access to investment platform

Rosemount links with 7IM giving ARs access to investment platform

Financial planning network in strategic partnership with 7IM

Jenna Brown
clock 15 July 2024 • 1 min read