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Transact chief bullish as assets tick up

Ian-Taylor-2012-700x450.jpgTransact saw funds under direction marginally increase to £29.8bn in the second quarter of 2018, according to a stock exchange announcement from parent IntegraFin Holdings.

IntegraFin listed on the London Stock Exchange in March with a £650m valuation.

In a Q2 update today, the company says funds under direction at the close of the three-month period ending 31 March 2018 were £29.8bn. At the start of the quarter, funds under direction were £29.7bn.

At the end of Q2 2017, funds under direction were £25.5bn.

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The company also reported the platform’s funds under direction for the six months ending 31 March 2018 which increased from £27.9bn at the start of the period to £29.8bn at the end.

Chief executive Ian Taylor says: “I’m pleased to report a solid funds under direction update. Despite the return of higher equity market volatility, Transact has achieved good levels of inflows of client assets, demonstrating the strength and resilience of the business.”

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.

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