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Transact has its best-ever first quarter

Transact has its best-ever first quarter

The Transact platform had net inflows of £959m for the final three months of 2019, which the company said was its best-ever first quarter.

A stock market announcement from Integrafin, the parent company of Transact, showed the platform, funds under direction grew from £31.6bn to £39.3bn over the course of 2019.

In the three months to the end of December, the company had net inflows of £959m, and benefitted from positive market movements of £561m. 

Ian Taylor, the company’s co-founder and chief executive, announced in December that he would stop down as chief executive of Integrafin in March, but continue as a director. 

He co-founded the business as one of the first adviser platforms in 1999, and remained in charge as Integrafin floating on the London Stock Exchange in 2018, with a valuation of £650m. It now has a market cap of £1.5bn and is a member of the FTSE 250.

Mr Taylor told FTAdviser that he was working in insurance when a chance meeting with some Australian business people introduced him to the concept of platforms, which were already a feature of the Australian market, and gave him the idea to launch the business.

Commenting on the results, Mr Taylor said: “We have started the financial year strongly, with our highest-ever first quarter inflows.

"Data from Fundscape shows that Transact had the highest net inflows of all advised platforms in the first three quarters of 2019. The business is well positioned, with funds under direction 24 per cent higher than December 31 2018. These are positive indicators for the year ahead.” 

david.thorpe@ft.com

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