09 Nov A difficult third quarter for platforms

Overall platform assets declined by 2.3% to £163.9bn in the third quarter as the eurozone crisis took its toll. However Axa Elevate, Nucleus and Ascentric bucked the trend.

Despite the summer of discontent, gross sales rose by 1.4% to £12.5bn relative to the previous quarter, but net flows were down slightly (-0.7%) to £7.5bn.  Sales would have been a damp squib were it not for Cofunds with gross flows of £4.6bn and net flows of £3.3bn.

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