// Press Releases
10 Jul 2017 BEYOND MS15/2.3 – CHALLENGING THE RESEARCH MARKET
Last year, the Gatekeepers report caused a stir in the industry by being the first to shine a light on potential biases in fund ratings. This year’s edition is bigger, better and bolder with a wealth of practical information to help fund managers navigate this challenging post MS15/2.3 market. As well as re-assessing the gatekeeper market, we’ve taken a closer look at the efficacy of active fund management, sorted the really active wheat from the closet-tracking chaff, and looked at the value chain from a regulatory perspective and the potential for further scrutiny and investigation.
12 May 2017 Record-breaking start to the year for platforms
It was a cracking start to the year for the platforms industry with several new highs. Assets under administration rose by £31bn (6%) to £520bn, smashing through the £500bn ceiling, while gross and net sales set new records of £29bn and £13.3bn respectively. This was in marked contrast to the start of 2016 when economic factors and Brexit fears led investors to stay away from investments.
10 Mar 2017 UK platform industry ends year on a high
Download this press release here. In a year overshadowed by political uncertainty, it is no surprise that investors sat on the side-lines waiting for the storm clouds to clear. But after three quarters of sluggish activity, sentiment improved and net sales rose to £10.5bn in the fourth quarter, the highest since Q415. However, it was not enough to correct the balance — annual net sales of £38bn were down 16% on the £45bn in 2015 and few platforms were able to improve on their 2015 figures.
16 Nov 2016 Press release – Platform sales plummet in third quarter of 2016
Download the full press release here. Following the EU referendum, the FTSE 100 and the FTSE All-Share indices rocketed by 6% and 7% in the third quarter of the year, on top of the growth already experienced in late June. Against this backdrop, according to the Fundscape Platform Report, platform assets rose 9% from £432bn to £469bn by end September 2016. Since the start of the year, UK platform industry assets have increased by £67bn, an increase of 17%.
15 Aug 2016 Pensions save the day for platforms (Q216 results)
The first half of 2016 was challenging for fund groups and platforms alike. The stock market correction eased up as the second quarter began — in time for last-minute ISA activity — but Brexit scared off many investors who chose to hold off until after the referendum. Only pension flows broadly maintained their momentum. According to the Fundscape Platform Report, as a result of investors switching and taking shelter in cash and safe products, gross flows for the quarter swelled to £24bn (£22bn in Q116), but net sales fell to £9.57bn (£9.6bn in Q116), the lowest total since Q3 2014 (£8.8bn). Bella Caridade-Ferreira, CEO of Fundscape, said “Investors lost their nerve in the final weeks before the Brexit vote and cashed out. Platforms without decent cash facilities would have felt the pain more keenly.”
10 May 2016 A rocky start to the year for the platform industry as brexit fears bite – Q116 Platform press release
Download press release here. Chinese concerns and Brexit fears spooked the stock markets and sent retail investors scurrying for cover in the first quarter. Stock markets have since been home to a modest recovery, but with the Brexit referendum approaching fast, investors are putting some investments on hold. According to the Fundscape Platform Report, despite volatile markets and stock market growth of 1% in the first three months of the year, platform assets under administration rose by 3% (£13bn) to £415bn. Gross platform sales in Q1 totalled £21.2bn, marginally higher than sales in Q415, but down 7% on the first quarter of 2015. With investors running scared, the net sales total slipped below £10bn (£9.4bn) for the first time since Q314.
02 Mar 2016 Quality of research varies greatly from shortlist to shortlist
An extensive analysis of fund shortlists found that the quality of research varies greatly from list to list, and so it pays for advisers and consumers to be more selective about fund selectors. The independent study by Fundscape and gbi2 analysed 36 gatekeepers in four different categories of fund selectors: D2C buy-lists, adviser buy-lists, rating agencies and off-platform lists. These gatekeepers influence a significant proportion of fund flows and as a result, have the potential to make or break funds whose success in gathering assets may depend on being selected by one or more fund selectors.
10 Nov 2015 Platforms shake off market correction with strong flows in Q3
Download full press release here. With a stock market correction of 8% during the quarter, it was no surprise that platform assets shrank by 0.7% to £377bn — robust flows and a strong interest in all things pensions cushioned platforms from the worst. Fundscape’s Q3 Platform Report showed that gross flows were slightly lower than the last quarter at £24bn, but net flows rose to a new high of £13bn[1]. On a YTD basis, gross sales were £72bn v £60bn in 2014, while net sales were £35bn v £30bn the previous year.
11 Aug 2015 Strong ISA & pension flows offset by market turbulence in Q2 of 2015
Stock market turbulence put a brake on platform asset growth in the second quarter. But despite the FTSE 100 falling by 4% during the quarter, platform assets rose by £5bn to £382bn, a rise of 1.3%. Despite stock market volatility, platforms registered a new high in gross sales as the ISA season and pension freedoms converged to boost platform business. As a result, gross sales for the platform industry totalled £24.6bn, and on a year-to-date basis £47bn against £41bn in 2014. Net sales came to £11.1bn, bringing the year-to-date to £21.6bn against £20.6bn the previous year.
15 May 2015 A sluggish start to 2015
It was a sluggish first quarter for platforms. With polls predicting a hung parliament, investors held off on their investments until the outcome of the general election was clearer. Pensions also played a role in dampening flows. Not only did NS&I’s new rate-busting pensioner bonds divert the silver pound, but preparing the ground for new pension freedoms kept platforms and advisers busy throughout the first quarter. In the first quarter of the year, platform assets under administration rose by £26.5bn (7.9%) to £370.8bn. Since March 2014 assets have expanded by £67bn, a rise of 22%. Three platforms outperformed the asset growth trend: Aviva, Zurich and Nucleus with YOY growth rates of 90%, 73% and 29% respectively.
09 Mar 2015 Pensions push platforms to record highs in 2014
Geopolitical clouds gathered for the fund industry in the second half of the year, but platforms weathered the storm thanks in particular to robust pension product flows. As a result, platform flows rose to record highs in the fourth quarter, with gross sales totalling £22bn and net sales coming in at just over £12bn. According to the Fundscape Platform Report, it was a remarkable year for the industry. Platform assets rose by £50bn to reach £343.7bn at the end of the year, a growth rate of 17% that overshadowed the FTSE 100’s -2.7% for the same period. Pension freedom and the ongoing demand for income were the two main factors that drove flows and worked in the industry’s favour. Gross sales for the year rose by 21% to £82bn from £68bn in 2013, while net sales were up by 16% to £42bn from £36bn in 2013.SIGN UP TO OUR NEWSLETTER
Want to be kept informed of Fundscape news, views and developments? sign up to our newsletter.