Transact’s funds under direction (FUD) increased 5.7% over the quarter ending 30 June despite net flows being down on the previous quarter.
The platform’s parent company Integrafin Holdings reported on Tuesday that FUD hit £36.4bn over Q3 of its financial year as market growth of £1.2bn helped counteract £592m outflows.
Overall, the platform recorded net flows of £796m during the quarter, down from the £926m seen in Q2.
The 5.7% growth over Q3 compares with 1.9% for the FTSE All Share and 5.8% for the MSCI World Index.
Over the financial year FUD increased 9.8%. At the end of the same quarter in 2018 FUD stood at £31.9bn.
Integrafin chief executive Ian Taylor (pictured) said: “I am pleased to report again that, despite persistent political and economic uncertainties, funds under direction have grown well. Net flows, although lower, proved resilient and market growth in the quarter contributed to the overall increase. The business is well positioned as we continue to grow assets and pleasingly our costs are modestly below our initial expectations for the current year.”
