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Transact reports record inflows as assets near £30bn

Ian Taylor Transact 440Platform Transact has reported record first half inflows in its first trading statement since floating.

The platform’s parent company IntegraFin listed on the London Stock Exchange in March with a £650m valuation.

In an H1 update today, the company says funds under direction at the end of the six-month period to 31 March were £29.8bn, up from £27.9bn at the end of September last year.

Compared with the same six-month period last year, funds under direction were up £4.2bn.

Pre-tax profits on the platform also rose 8 per cent from the same six-month period last year to £18.7m.

Transact chief executive Ian Taylor says: “Following a successful IPO, we are pleased to announce a pleasing set of results for the first half of the year. Despite the backdrop of stock market volatility, Transact achieved its highest ever H1 inflows.

“Given our differentiated premium offering and the quality of the service we offer to advisers and their clients, we remain confident in our ability to sustain growth as we move into the second half of the year.”

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