IntegraFin Holdings plc Q2 Funds Under Direction Update (2575K)

TIDMIHP

RNS Number : 2575K

IntegraFin Holdings plc

21 April 2020

LEI Number: 213800CYIZKXK9PQYE87

IntegraFin Holdings plc

Q2 Funds Under Direction update

Funds Under Direction ("FUD") Update

21 April 2020

IntegraFin Holdings plc (the "Company") today announces the quarterly Funds Under Direction update for Transact - the award-winning platform providing services to UK clients and their financial advisers.

On 31 March 2020 FUD totalled GBP34,990 million, representing a decrease of 11.0% over the quarter and an increase of 1.7% over the year. Over the quarter the FTSE All Share Index fell by 26.0% and the MSCI World Index fell by 16.1%.

 
                     Quarter ended   Quarter ended        H1 ended        H1 ended 
                     31 March 2020   31 March 2019   31 March 2020   31 March 2019 
                              GBPm            GBPm            GBPm            GBPm 
 Opening FUD                39,312          31,650          37,799          33,113 
 Inflows                     1,699           1,444           3,234           2,837 
 Outflows                     -596            -518          -1,172          -1,027 
 Net Flows                   1,103             926           2,062           1,810 
 Market movements           -5,433           1,822          -4,872            -515 
 Other movements 
  (1)                            8               8               1              -2 
 Closing FUD                34,990          34,406          34,990          34,406 
 

Notes:

   (1)                   Includes investment income, fees and taxes. 

Alex Scott, CEO, said:

"I can report that in our second quarter we achieved our highest ever quarterly inflows, both gross and net. This follows on from our highest ever first quarter gross inflows in the previous quarter.

Despite the substantial, downward movements in world equity markets since mid-February, this strong inflow growth has contributed to a small increase in FUD over the year.

My primary concerns are, of course, the welfare of our staff and the maintenance of services to clients. Our staff are currently working from home whilst providing as good a quality service as possible to clients and their advisers. There have been costs involved in implementing these new arrangements - but these should not have a meaningfully detrimental effect on the business or the delivery of Transact.

The outlook for the second half of the year is dependent upon the economic effects of measures to combat COVID-19 and their impact upon equity markets, FUD and flows."

The Company expects to announce half year results on 21 May 2020.

Enquiries

 
 Media 
 Lansons 
 Tony Langham             [phone] 
 Maddy Morgan Williams    [phone] 
 
 Investors 
 Jane Isaac               [phone] 
 

IntegraFin Holdings plc

Q2 Funds Under Direction update

Historical Flow and FUD data by quarter

 
                         Q1       Q2       Q3       Q4       Q1       Q2 
                       FY19     FY19     FY19     FY19     FY20     FY20 
                       GBPm     GBPm     GBPm     GBPm     GBPm     GBPm 
 Opening FUD         33,113   31,650   34,406   36,352   37,799   39,312 
 Inflows              1,393    1,444    1,388    1,475    1,535    1,699 
 Outflows              -509     -518     -592     -584     -576     -596 
 Net Flows              884      926      796      891      959    1,103 
 Market movements    -2,337    1,822    1,180      532      561   -5,433 
 Other movements 
  (1)                   -10        8      -30       24       -7        8 
 Closing FUD         31,650   34,406   36,352   37,799   39,312   34,990 
 

Notes:

   (1)                   Includes investment income, fees and taxes. 

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April 21, 2020 02:00 ET (06:00 GMT)