Lacklustre 2022 for platforms sees 'boom to gloom' 8% asset slide

Latest platforms analysis from Fundscape today (13 February) states the industry experienced a "boom to gloom" year in 2022 characterised by "lacklustre gross and net flows". Gross annual flows were down 27% on 2021 last year, while net flows fell by 57%. "We have had a series of economic shocks squashed into just one year," chief executive Bella Caridade-Ferreira reasoned. "Investors have been spooked." While Caridade-Ferreira said the long-term effects of Brexit had also played a part in the weak year for platforms, she countered that "this too will pass". "The need to save an...