InvestmentsJun 29 2018

Nucleus to float with £150m valuation

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Nucleus to float with £150m valuation

Fund platform Nucleus will announce its float on the London Stock Exchange on Monday (2 July) with a valuation of close to £150m.

As FTAdviser has previously reported, the management of the platform had hinted they intended to float as shareholders were looking for an exit. The business has many financial advisers among its owners, alongside the wealth management firm Sanlam.

The company was launched in 2006 by David Ferguson, who continues to run Nucleus Financial.

The company will float on the Alternative Investment Market (AIM).

Nucleus has assets under administration of £13bn.

The company, which is based in Edinburgh, cut its fees in 2017.

For the year to 31 Decemeber 2017, the company reported an operating profit of £5.1m.

In the results statement, Mr Ferguson said: "The advised platform market continues to grow strongly and our audience continues to thrive. We are better positioned than ever before to take advantage of the significant growth opportunities in the platform sector over the coming years.

"We have invested heavily in large-scale infrastructure initiatives over the past three years to lay the foundations for the next stage of our growth.

"I believe we are poised to accelerate this progress even further over the coming year by remaining fully committed to investing in next generation technology and enhancing a platform proposition that has been designed hand in hand with advisers, for the express benefit of them and their clients."