TIDMIHP
RNS Number : 6610I
IntegraFin Holdings plc
20 April 2022
LEI Number: 213800CYIZKXK9PQYE87
IntegraFin Holdings plc
Q2 Funds Under Direction Update
Funds Under Direction Update
20 April 2022
IntegraFin Holdings plc today announces the quarterly Funds
Under Direction (FUD) update for Transact - the award-winning
platform providing services to UK clients and their financial
advisers.
Highlights
-- We achieved record inflows for H1 of financial year 2022,
surpassing GBP4bn of inflows for the first time.
-- Our net inflows for H1 of financial year 2022 were our best
ever at GBP2.7bn, an increase of 16% on the comparative period in
financial year 2021.
-- Our FUD was GBP53.5bn as at 31 March 2022, representing a
decrease of 1.9% over the quarter. Over the same period, the MSCI
World Index (Large & Mid Cap) fell by 3.8%.
Quarter ended Quarter ended H1 ended H1 ended
--------------------
31 March 2022 31 March 2021 31 March 2022 31 March 2021
GBPm GBPm GBPm GBPm
Opening FUD 54,539 44,824 52,112 41,093
Inflows 2,092 2,153 4,068 3,734
Outflows -697 -686 -1,385 -1,427
Net Flows 1,395 1,467 2,683 2,307
Market movements -2,376 694 -1,169 3,632
Other movements(1) -58 -56 -126 -103
Closing FUD 53,500 46,929 53,500 46,929
--------------------
Notes:
(1) Includes fees, taxes and investment income.
Alex Scott, CEO, said:
I am pleased to report another strong quarter of inflows on to
our platform. Our gross inflows for the first half year of the
financial year were our best ever at GBP4.07bn, with outflows
remaining low, and lower than the first half of financial year
2021. This resulted in a 16% increase in net inflows for the first
half of the financial year 2022 (GBP2.68bn), compared to the first
half of financial year 2021 (GBP2.31bn).
Our net inflows for the quarter (GBP1.40bn) were 4% lower than
the same quarter in financial year 2021 (GBP1.47bn). However, the
net flows for this quarter were impacted by the timing of Easter
and the resultant number of days prior to tax year end in April
2022 when compared to the prior year. Overall, these results
demonstrate the resilience of our platform business model through
different market conditions.
Despite strong net inflows, our FUD reduced overall to
GBP53.50bn. This is the result of unexpected, and continuing,
geo-political events impacting stock markets. This has a
corresponding impact on our revenue.
We are mindful of the challenging economic outlook and the
impact of inflationary pressures on our cost base. However, we
continue to invest in our people and to develop our market leading
proprietary software for the Transact platform and the Time4Advice
adviser back office system, in order to deliver the high quality
service standards for which we are renowned.
We look forward to reporting our half year results on 26 May
2022.
Historical Flow and FUD data by quarter
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
FY20 FY20 FY21 FY21 FY21 FY21 FY22 FY22
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Opening FUD 34,990 39,711 41,093 44,824 46,929 50,310 52,112 54,539
Inflows 1,225 1,291 1,581 2,153 1,994 1,967 1,976 2,092
Outflows -428 -560 -741 -686 -657 -660 -688 -697
Net Flows 797 731 840 1,467 1,337 1,307 1,288 1,395
Market movements 3,958 690 2,938 694 2,112 553 1,207 -2,376
Other movements
(1) -34 -39 -47 -56 -68 -59 -68 -58
Closing FUD 39,711 41,093 44,824 46,929 50,310 52,112 54,539 53,500
Notes:
(1) Includes fees, taxes and investment income.
Enquiries
Investors
Luke Carrivick +44 020 7608 5463
Media
Lansons
Tim Naylor +44 (0)79 83612919
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END
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