TIDMIHP
RNS Number : 1697D
IntegraFin Holdings plc
18 October 2022
LEI Number: 213800CYIZKXK9PQYE87
18 October 2022
IHP Group quarterly update - Q4 of financial year 2022
Resilient Transact platform performance in spite of volatile
markets
Headlines
-- Highly resilient Transact platform gross inflows for the
quarter of over GBP1.5bn, with solid net inflows during the quarter
of over GBP0.7bn.
-- Net inflows to the Transact platform for the financial year
ended 30 September 2022 of GBP4.4bn.
-- Growth of the Transact platform's adviser base - at the end
of the financial year (30 September 2022) there were 7.5k advisers
registered on the Transact platform (an increase of over 5% from 30
September 2021).
-- At the end of the financial year (30 September 2022) there
were 224.7k clients on the Transact platform (an increase of 8%
from 30 September 2021).
-- The average (daily) funds under direction (FUD) on the
Transact platform during the financial year ended 30 September 2022
was GBP52.5bn. This compares with an average during the prior
financial year of GBP47.2bn.
-- Other than the cost implications from the HMRC VAT decision
(RNS issued on 20 September 2022), the detailed cost guidance,
which we disclosed in the Q3 market update (19 July 2022), remains
unchanged.
-- The development of Time4Advice's CURO 365 software remains on
schedule, and is planned for release to a beta client for live
testing by the end of the year.
-- The Transact-BlackRock Model Portfolio Service (MPS) was
launched in September 2022. This is available exclusively to
Transact platform clients.
GBPm Financial Financial
Quarter Quarter year year
ended ended ended ended
30 September 30 September 30 September 30 September
2022 2021 2022 2021
------------------------ -------------- -------------- -------------- --------------
Opening FUD 50,300 50,310 52,112 41,093
Inflows 1,505 1,967 7,275 7,695
Outflows -785 -660 -2,873 -2,744
Net Flows 720 1,307 4,402 4,951
Market movements -927 553 -6,248 6,297
Other movements(1) -23 -58 -196 -229
------------------------ -------------- -------------- -------------- --------------
Closing FUD 50,070 52,112 50,070 52,112
------------------------ -------------- -------------- -------------- --------------
Average daily FUD
for the period (GBPm) 52,217 51,647 52,544 47,240
------------------------ -------------- -------------- -------------- --------------
Number of registered
advisers 7,537 7,161 7,537 7,161
Number of platform
clients 224,705 208,611 224,705 208,611
------------------------ -------------- -------------- -------------- --------------
Notes:
(1) Includes fees, taxes and investment income.
Alex Scott, Chief Executive Officer, commented:
"I am very pleased with the strength of our business performance
during the financial year ended 30 September 2022.
The Transact platform is utilised by clients and advisers for
long term financial planning. Therefore, Transact platform outflows
have remained relatively stable during the course of the year. This
has contributed to our continued very high retention rate of funds
under direction on the Transact platform of 94% for the financial
year.
At a time of economic uncertainty, clients rely even more on the
support and knowledge of their financial adviser. Our business
model is centred on providing long term support for our clients and
their financial advisers. We will continue to advance the
development of our proprietary software, and we will train users in
how to best use the extensive functionality now available. All of
this will enable our clients, with their advisers, to stay on track
with their long term financial plans.
We are mindful of the difficult economic environment and the
significant volatility in asset markets, however we expect the
performance of the Transact platform to remain robust during the
forthcoming financial year, with new clients and advisers joining,
and continued resilient flows onto the Transact platform."
Historical information
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
GBPm FY21 FY21 FY21 FY21 FY22 FY22 FY22 FY22
------------------------- -------- -------- -------- -------- -------- -------- ------------ ------------
Opening FUD 41,093 44,824 46,929 50,310 52,112 54,539 53,500 50,300
Inflows 1,581 2,153 1,994 1,967 1,976 2,092 1,703 1,505
Outflows -741 -686 -657 -660 -688 -697 -703 -785
Net Flows 840 1,467 1,337 1,307 1,288 1,395 1,000 720
Market movements 2,938 694 2,112 553 1,207 -2,376 -4,152 -927
Other movements (1) -47 -56 -68 -59 -68 -58 -48 -23
-------------------------
Closing FUD 44,824 46,929 50,310 52,112 54,539 53,500 50,300 50,070
------------------------- -------- -------- -------- -------- -------- -------- ------------ ------------
Average daily FUD
for the period (GBPm) 42,905 45,873 48,677 51,647 53,514 52,551 51,889 52,217
------------------------- -------- -------- -------- -------- -------- -------- ------------ ------------
Number of registered
advisers 6,836 6,962 7,056 7,161 7,278 7,356 7,469 7,537
Number of platform
clients 194,857 201,104 205,532 208,611 213,178 218,787 221,992 224,705
------------------------- -------- -------- -------- -------- -------- -------- ------------ ------------
Notes:
(1) Includes fees, taxes and investment income.
Enquiries
Investors
Luke Carrivick, IHP Head of Investor
Relations +44 020 7608 5463
Media
Lansons: Tony Langham +44 (0)7979692287
Lansons: Maddy Morgan-Williams +44 (0)7947364578
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCMRBRTMTMBBLT
(END) Dow Jones Newswires
October 18, 2022 02:00 ET (06:00 GMT)
Integrafin (LSE:IHP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Integrafin (LSE:IHP)
Historical Stock Chart
From Jul 2023 to Jul 2024
