×
Message
Failed loading XML...
Specification mandates value for attribute crossorigin
EntityRef: expecting ';'
EntityRef: expecting ';'
EntityRef: expecting ';'
EntityRef: expecting ';'
EntityRef: expecting ';'
EntityRef: expecting ';'
EntityRef: expecting ';'
EntityRef: expecting ';'
Opening and ending tag mismatch: link line 1 and head
Specification mandates value for attribute data-bablic-exclude
attributes construct error
Couldn't find end of Start Tag script line 1
EntityRef: expecting ';'
EntityRef: expecting ';'
Opening and ending tag mismatch: body line 1 and script
Opening and ending tag mismatch: link line 1 and body
Opening and ending tag mismatch: meta line 1 and html
Premature end of data in tag meta line 1
Premature end of data in tag meta line 1
Premature end of data in tag meta line 1
Premature end of data in tag meta line 1
Premature end of data in tag meta line 1
Premature end of data in tag head line 1
Premature end of data in tag html line 1
Tuesday, 20 July 2021 07:39
Transact FUD rises 7.2% as IFAs place £1.99bn
Funds under direction (FUD) for adviser platform Transact rose 7.2% over the quarter ending 30 June.
The platform saw its highest ever third quarter gross inflows of £1.99bn with the platform now having £50.31bn FUD.
Over the same period the FTSE All Share Index rose by 4.8% and the MSCI World Index (Large & Mid Cap) rose by 7.2%.
Outflows remained steady at £657m, leaving net flows of just below £1.34bn.
A comparison with the same period from the prior year is distorted by the impact of Covid-19, however, in comparison to the third quarter 2019, net flows have increased at an annual rate of 30%.
Equity markets remained positive over the quarter, and this also contributed to FUD passing £50bn for the first time.
Alex Scott, CEO of Transact, said: “We continue to invest in high levels of service to drive top-line growth and to maximise customer experience. As previously stated, the full year numbers will include elements of non-recurring cost which we signalled at the half year.
“Whilst we look forward to returning to our offices in the next quarter, on a new flexible working plan, we remain cautious of the immediate health impacts and longer term economic impacts of Covid-19.”
Some staff will return to the firm's City of London-based HQ during August with all staff members to return in September. The platform will be piloting a hybrid working model with a minimum of three days each week in the office for full-time staff.
From Financial Planning Jobs. For more click on any job.
This is a selection of jobs from our new Financial Planning Jobs site - for more job vacancies click on any job or the link below.
Financial Planning Jobs https://jobs.financialplanningtoday.co.uk/
This page is available to subscribers. Click here to sign in or get access.