Transact records best Q1 with £1.3bn net flows

Transact records best Q1 with £1.3bn net flows
Photographer: Jason Alden/Bloomberg

IntegraFin, the owner of advised platform Transact, has recorded its best first quarter yet for net flows, adding £1.29bn to its funds under direction (FUD) between October and December 2021.

The net flows mark a 22 per cent increase on the platform’s previous best Q1 back in 2018, when they reached £1.06bn.

This meant Transact’s FUD, as of the end of last year, had grown to £54.54bn - nearly £10bn more than it had on its platform a year earlier (£44.82bn).

IntegraFin’s share price dropped slightly upon market opening today (January 18), down 0.95 per cent to 522p at time of writing (08:45am).

Alex Scott, Integrafin’s chief executive, said the rate of growth of net inflows in the quarter “has been pleasing”.

In the 12 months to Q1 2022, net flows have grown 54 per cent, from £840m between October and December 2020.

But Scott noted: “The prior year quarter was a soft comparator and reflected the continued impact of pandemic response restrictions therefore our expectation is that net inflow growth will now be at normalised levels.”

IntegraFin’s boss added Transact’s results highlighted the “resilience and strength” of its business model, as well as “the growth opportunities” for both the platform and the addressable adviser market.

He continued: “We continue to invest in our people and the continued development of our market leading proprietary software, whilst being mindful of the challenging economic outlook.”

Jonathan Gunby, Transact’s chief executive, said despite the pandemic the platform’s team had continued to make enhancements to Transact Online functionality and onboard more staff.

“Assuming government guidelines permit, we are looking forward to staff returning to our London office very soon,” he said.

“Like many firms, we are adopting a hybrid working basis whereby all staff can work from their home for part of the week utilising a secure network connection."