LEI Number:
213800CYIZKXK9PQYE87
14 January 2025
IntegraFin Holdings plc
Q1
Trading Update
Digitalisation enhancements delivering strong net inflows to
the Transact Platform
IntegraFin Holdings plc ("IHP" or
the "Group"), operator of Transact, the UK's premium investment
platform for clients and UK financial advisers, is pleased to
update on performance for the three months ended 31 December
2024.
Group highlights
· Strong Q1 FY25 net inflows to the Transact platform of £0.9bn
(Q1 FY24: £0.3bn), representing 5.7% of opening FUD for the quarter
annualised.
· A further record
quarter end for funds under direction (FUD) on the Transact
platform of £65.9bn, up 3% during the quarter and 14% over the past
year.
· Record
high average daily FUD of £65.5bn in Q1 FY25 (Q1 FY24:
£55.5bn).
· Record
high levels of gross inflows to the platform in Q1 FY25 of £2.4bn
(Q1 FY24: £1.7bn).
· Growing client base
on the platform with 238.0k clients registered at Q1 FY25 (Q1 FY24:
231.4k).
Alex Scott, IHP Group Chief Executive Officer,
commented:
"We are pleased that the Transact
platform has delivered an excellent start to the new financial
year, building on the strong momentum seen in H2 FY24. The
investment in digitalisation of Transact has contributed to our
ongoing appeal to clients and advisers and resulted in strong net
inflows for the quarter of over £0.9bn. This quarter also saw the
platform's highest ever gross inflows of £2.4bn, as advisers were
attracted to our market-leading service and continued functionality
enhancements.
Average daily FUD levels also
reached record highs, supported by global equity markets buoyed by
the outcome of the US election in November.
Furthermore, uncertainty in
anticipation of the UK Autumn Budget led to heightened client
activity in October. This affected both
inflows and outflows but resulted in minimal impact on net flows in
that month. Inflows and outflows have both returned to more
normalised levels over the November and December period.
Long-term structural growth drivers
for the UK adviser platform market remain positive, and IHP's
market-leading proposition puts us in a strong position to
capitalise on future growth."
Transact platform reporting for Q1 FY25:
|
£m
|
Quarter
ended 31 December 2024
|
Quarter
ended 31 December 2023
|
|
Opening FUD
|
64,065
|
54,959
|
|
Inflows
|
2,418
|
1,657
|
|
Outflows
|
-1,498
|
-1,389
|
|
Net flows
|
920
|
268
|
|
Market movements
|
880
|
2,786
|
|
Other
movements(1)
|
15
|
-3
|
|
Closing FUD
|
65,880
|
58,010
|
|
Average daily FUD for the period
(£m)
|
65,462
|
55,474
|
|
Number of platform
clients
|
237,978
|
231,413
|
Notes:(1)Includes fees, taxes and investment
income
Transact platform historical information:
|
£m
|
Q2
FY23
|
Q3
FY23
|
Q4
FY23
|
Q1
FY24
|
Q2
FY24
|
Q3
FY24
|
Q4
FY24
|
Q1
FY25
|
|
Opening FUD
|
52,063
|
53,973
|
54,606
|
54,959
|
58,010
|
61,020
|
62,420
|
64,065
|
|
Inflows
|
1,825
|
1,517
|
1,595
|
1,657
|
2,268
|
2,017
|
2,162
|
2,418
|
|
Outflows
|
-900
|
-900
|
-1,184
|
-1,389
|
-1,478
|
-1,358
|
-1,370
|
-1,498
|
|
Net flows
|
925
|
617
|
411
|
268
|
790
|
659
|
792
|
920
|
|
Market movements
|
994
|
21
|
-62
|
2,786
|
2,196
|
745
|
838
|
880
|
|
Other
movements(1)
|
-9
|
-5
|
4
|
-3
|
24
|
-4
|
15
|
15
|
|
Closing FUD
|
53,973
|
54,606
|
54,959
|
58,010
|
61,020
|
62,420
|
64,065
|
65,880
|
|
Average daily FUD for the period
(£m)
|
53,842
|
54,288
|
54,964
|
55,474
|
58,567
|
61,435
|
63,044
|
65,462
|
|
Number of platform
clients
|
228,232
|
229,659
|
230,294
|
231,413
|
231,581
|
234,084
|
234,998
|
237,978
|
Notes:(1)Includes fees, taxes and investment
income.
|
Enquiries:
|
|
|
Investors
|
|
|
Luke Carrivick, IHP Head of Investor
Relations
|
+44 020
7608 5463
|
|
Media
|
|
|
IHP@fgsglobal.com
FGS Global: Mike Turner
FGS Global: Chris Sibbald
|
+44 7775992415
+44 7855955531
|