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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nucleus Financial Group Plc | LSE:NUC | London | Ordinary Share | GB00BG226J60 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 191.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNUC
RNS Number : 2168V
Nucleus Financial Group PLC
13 April 2021
13 April 2021
Nucleus Financial Group plc
('Nucleus' or the 'Company')
Q1 2021 AUA update
Assets under administration increase to GBP18.0bn with 44.7% increase in net inflows on Q4 2020
Nucleus (AIM: NUC), a leading independent wrap platform provider, today publishes an update on its assets under administration (AUA) in respect of the three months to 31 March 2021.
The Company continues to grow AUA, which rose to GBP18.0bn as of 31 March 2021, up 28.4% year-on-year and 3.1% on the previous quarter. By comparison, the FTSE All-Share Index increased 23.3% year-on-year and by 4.3% on the last quarter.
Q1 highlights
- Gross inflows of GBP637m were achieved in Q1 with March 2021 our best ever month for inflows. This represented a 29.5% increase on the previous quarter (Q4 2020: GBP492m) as sentiment continued to improve, and a 9.8% increase on Q1 2020.
- Net inflows were GBP301m (with March being our second best ever month) up 44.7% against the prior quarter and up 12.3% on Q1 2020.
- Advisers actively using the platform increased by 2.2% in Q1 2021 compared to the previous quarter and by 1.9% year-on-year.
- Customer numbers increased by 0.7% in Q1 2021 compared to the previous quarter and by 3.1% year-on-year.
- Successful integration of our new colleagues following our December transaction with Genpact.
- Following a successful soft launch period in H2 2020, the first quarter of 2021 saw the full rollout of our new model portfolio service, Nucleus IMX, which has immediately become the third highest discretionary managed portfolio service for net inflows from existing users on the Nucleus platform in Q1 2021.
- Further and continued investment in the platform in the quarter saw enhancements to our phased drawdown functionality, improvements to client documentation and will shortly see the introduction of next day payments.
- Nucleus had the largest year-on-year increase in score (across all platforms) in the latest Platforum User Leaderboard (March 2021 v March 2020) to move into 5(th) place and was the only platform to score an increase in performance across all categories in the latest report .*
AUA and inflows
Quarter ended Quarter ended Quarter ended 31 March 31 March 31 December 2021 2020 2020 GBPm GBPm GBPm -------------- -------------- Opening AUA 17,415 16,141 16,103 Inflows 637 580 492 Outflows (336) (312) (284) Net flows 301 268 208 Market movements 243 (2,423) 1,104 Closing AUA 17,959 13,986 17,415 Daily average AUA 17,696 15,636 16,739 -------------- -------------- --------------
David Ferguson, Nucleus' founder and CEO, commented:
"The first quarter has been incredibly strong for new business activity, reflecting the continued achievements of our people and validating our decision to maintain our investment programme through 2020. Q1 net inflows were substantially up on Q4 (and on the prior year) and, at over GBP300m for the first time in a single month, March was by far our best-ever month for inflows, a trend we'd hope to see continue as lockdown eases."
"User satisfaction continues to improve following the successful acquisition and integration of our new colleagues from OpenWealth. We are pleased with our Q1 performance. Profit for the year to date is ahead of the board's expectations as a result of higher AUA and lower costs and we believe the business is well-positioned to accelerate inflow momentum and to expand our operating margin through the rest of this year and beyond."
Historical flows and AUA data by quarter
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm ----------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Opening AUA 13,577 13,527 14,339 14,693 13,884 14,753 15,332 15,697 16,141 13,986 15,825 16,103 17,415 Inflows 665 600 563 462 466 488 490 497 580 384 373 492 637 Outflows (254) (285) (281) (277) (332) (377) (379) (344) (312) (219) (291) (284) (336) Net flows 411 315 282 185 134 111 111 153 268 165 82 208 301 Market movements (461) 497 72 (994) 735 468 254 291 (2423) 1,674 196 1,104 243 Closing AUA 13,527 14,339 14,693 13,884 14,753 15,332 15,697 16,141 13,986 15,825 16,103 17,415 17,959 Daily average AUA 13,609 14,086 14,585 14,202 14,399 15,047 15,552 15,704 15,636 15,112 16,041 16,739 17,696 ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
* Source: Platforum UK Adviser Platforms: Market Overview (Issue 45). Platforum's user leaderboard asks users to rate their primary and secondary platforms across a series of ten criteria.
Ends
For further information please contact:
Nucleus
David Ferguson, CEO Tel: +44 (0)13 1226 9800
Stuart Geard, Chief Financial Officer
Shore Capital (Nominated Adviser and Broker)
Hugh Morgan Tel: +44 (0)20 7408 4090
Edward Mansfield
Daniel Bush
Camarco (Media enquiries)
Jennifer Renwick Tel: +44 (0)20 3757 4994
Jake Thomas
Notes to Editors
About Nucleus
Nucleus is a wrap platform founded in 2006 by advisers committed to altering the balance of power in the industry by putting the customer centre stage. It provides independent wrap platform services to over 1,450 active adviser users and works with more than 850 financial adviser firms as of 31 March 2021. It is responsible for AUA of GBP18.0bn on behalf of more than 101,000 customers.
The multi award-winning platform offers a range of custody, trading, payment, reporting, fee-handling, research and integration services across a variety of tax wrappers and more than 6,500 asset choices including cash, OEICs, unit trusts, offshore funds, structured products and listed securities, including ETFs and investment trusts. The platform currently facilitates over 1.1 million customer account transactions on average per month.
Nucleus has been awarded CoreData's 'Best medium sized platform' for 2020 (and the last nine years). It has also been awarded a 5-star service rating at the 2020 and 2019 Financial Adviser Awards, the Schroders 'Platform of the Year' award for 2016, 2017 and 2018 and won 'Best Platform' and 'Platform Innovation' at the 2018 Money Marketing Awards.
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April 13, 2021 02:00 ET (06:00 GMT)
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