A volatile market in the fourth quarter of last year saw platform Transact’s funds under direction dip by 4.4 per cent to £32bn, latest results show.
An update from parent Integrafin this morning sounds a positive note, however, that funds fell by less than major indices like the FTSE All Share and MSCI World, which were down 11 per cent and 11.7 per cent respectively.
Market movements had a £2.3bn negative impact on the platform over the quarter ended 31 December. For the same quarter in 2017, they boosted the platform’s funds by £734m.
Inflows were £1.39bn compared to £1.51bn the quarter previously, while net flows dropped to £884m from £979m.
Chief executive Ian Taylor says: “I am pleased to report that funds under direction proved generally resilient over the quarter when compared to movements in world equity markets. Inflows and net flows both fell a little from the levels of the previous quarter – but so, also, did outflows.”
At £509m, outflows in the quarter ended December were down from £537m the previous quarter, but higher than the £396m reported for the quarter ended December 2017.