InvestmentsDec 13 2018

Transact attracts £4bn of net inflows

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Transact attracts £4bn of net inflows

The Transact platform attracted £4bn of net inflows and 16,600 net new clients in the year to September 30.

Transact's parent company, Integrafin, posted its annual results which showed the platform attracted gross inflows of £5.96bn and net inflows of £4.09bn, which the company said were both record figures.

The total number of clients on the platform rose by 10 per cent to 166,000 and total funds on the platform are now £33.1bn, an increase of 19 per cent.

Chief executive Ian Taylor said the costs of listing on London Stock Exchange earlier this year were £2.5m, meaning profit after tax was £32.9m - a 10 per cent increase.

With the one-off costs of listing on the stock market removed, the profit after tax was £35.5m, an increase of 15 per cent.

Mr Taylor said he expected his firm’s profitability to be relatively insulated from the consequences of the severe market volatility currently gripping markets.

He said: "We would observe that using a platform is not an investment decision, it is an administration decision.

"Whilst platforms are not immune to stock market movements, they are somewhat insulated from the more extreme client reactions to those movements.

"And, of course, all of the compelling arguments for moving from old world administration to new world administration remain firmly in place."

He added that he wants Transact to continue to grow organically.

The Integrafin share price has been largely unmoved by the results, rising 0.63 per cent this morning.    

david.thorpe@ft.com