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Inflows to 7IM's platform rise by £200m

Inflows to 7IM's platform rise by £200m

Net inflows into Seven Investment Management’s platform rose by almost £200m, attributed to the addition of new functions.

Net inflows to the platform rose to £378m in the first quarter of 2021, compared with £190m in the last quarter of 2020.

In a statement, 7IM said it has continued to invest across its platform and launched a number of updates and enhancements in the past six months in order to improve user experience.

Gross inflows for the quarter were also up by just under £200m, with £624m invested in Q1 this year, a rise from the £486m in Q4.

The gains in gross inflows seen in Q1 were attributed by the platform to the end of the tax year in March, with £284m invested that month. The previous record for monthly inflows was just under £180m.

Matthew Yeates, head of alternatives and quantitative strategy at 7IM, said the record total inflows showed the pent-up demand for risk assets starting to be unleashed.

“Against a backdrop of rising inflation and resurgent global growth, advisers are no longer content to leave clients in cash lest they miss out on potential returns.

“Nonetheless, investors were also more divided in their views in the last quarter, with alternatives such as infrastructure and gold among the top ten alongside fixed income and equity mandates.”

Last October the firm significantly expanded its advice offering with the acquisition of Partners Wealth Management, bringing £2bn of assets under management to the group.

As part of the deal, PWM, headed up by David Stoll and James Roberts, will continue to operate as an independent company from 7IM, retaining its brand, identity and leadership. 

 sally.hickey@ft.com