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Transact sees funds dip in fourth quarter

A volatile market in the fourth quarter of last year saw platform Transact’s funds under direction dip by 4.4 per cent to £32bn, latest results show.

An update from parent Integrafin this morning sounds a positive note, however, that funds fell by less than major indices like the FTSE All Share and MSCI World, which were down 11 per cent and 11.7 per cent respectively.

Market movements had a £2.3bn negative impact on the platform over the quarter ended 31 December. For the same quarter in 2017, they boosted the platform’s funds by £734m.

Inflows were £1.39bn compared to £1.51bn the quarter previously, while net flows dropped to £884m from £979m.

Chief executive Ian Taylor says: “I am pleased to report that funds under direction proved generally resilient over the quarter when compared to movements in world equity markets. Inflows and net flows both fell a little from the levels of the previous quarter – but so, also, did outflows.”

At £509m, outflows in the quarter ended December were down from £537m the previous quarter, but higher than the £396m reported for the quarter ended December 2017.

All Transact staff to become shareholders after IPO success

Integrafin’s share price opened at 332p this morning, before rising to 337p in early trading. The company floated at 265p in March, falling to 257p by the end of the month, but has been as high as 395p.

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