Transact’s funds under direction (FUD) hit £45bn at the end of last year thanks to positive market movements in the final quarter.
A trading update from the platform provider’s parent Integrafin Holdings said FUD increased 9.1% during Q4, compared with an 11.9% rise in the FTSE All Share and a 7.5% jump in the MSCI World index.
FUD stood at £39.3bn at the end of 2019.
The platform charted a handsome £2.9bn gain from market movements as equity markets reacted positively to Covid vaccine developments and the US election result. It also saw a net inflow of £840m during the final quarter of 2020, as a £741m outflow offset a £1.58bn inflow.
Integrafin chief executive Alex Scott said the firm had seen its highest ever first quarter gross inflows.
“Outflows increased broadly as expected in line with FUD and net flows were consequently 15% higher than in the previous quarter,” he said.
“Equity markets reacted positively to encouraging news on the development of Covid-19 vaccines as well as the outcome of the US election result, and this also contributed to the 14% increase in FUD over the same point last year.
“While the operating environment undoubtedly remains unpredictable, these are positive indicators for the year ahead.”
Earlier this month, Integrafin Holdings confirmed it would not be making an offer to buy fellow platform provider Nucleus Financial Group. It came after Nucleus confirmed in December it had received proposals from Integrafin.
