// Platform Industry Highlights 2017

13 Feb 2018 Platform Industry Highlights 2017

Investment platform industry highlights

The PLATFORM INDUSTRY is in extended lockdown phase because several platforms will not report their full-year results to the stock market until mid-March, a full month after the usual scheduled publication date of the Fundscape Platform Report. As a result, Fundscape is releasing headline figures and industry highlights for 2017.  The full report will be released in March once all PLC-owned platforms have published their results.

Read full press release here.

The PLATFORM INDUSTRY is in extended lockdown phase because several platforms will not report their full-year results to the stock market until mid-March, a full month after the usual scheduled publication date. As a result, Fundscape is releasing headline figures and industry highlights for 2017.  The full report will be released in March once all PLC-owned platforms have published their results.

Despite Brexit and geopolitical uncertainty, it was a record-breaking year for the platform industry with pension freedoms and DB transfers fuelling growth. Gross and net sales hit new highs and assets rose to just under £600bn.

Platform industry headline figures 2017

  • Assets rose by £103bn for the full year, a rocket-fuelled 21% thanks to pension freedoms and asset consolidation. In contrast, the FTSE 100 and the FTSE All-Share indices rose by 7.6% and 9% respectively.
  • With Q4 gross sales just shy of £33bn, it was the second best quarter on record. Annual sales were also a record-breaking £126bn, up 34% against 2016’s gross sales of £93.7bn.
  • Net sales were a buoyant £14.2bn and second only to the ISA-fuelled sales of the second quarter.
  • Annual net sales were also a robust £55.9bn, up an impressive 46% on 2016.

Platform product mix 2017

  • Pension & Sipp wrappers account for 33% of platform assets, but attracted 63% of industry net flows for the year.
  • Total assets in pensions rose to £194bn. Of this amount, Fundscape estimate that two thirds of assets* are in accumulation products and one third in decumulation.

Platform channel mix 2017

*Based on pension figures provided by six platforms.

– Ends-

 

Notes to Editors:

The Platform Report is a confidential report published by Fundscape LLP.  To subscribe to the report, platforms must contribute asset and sales data on a quarterly basis. For further information, please visit www.fundscape.co.uk.

A total of 19 platforms are included in the analysis. Platform coverage is estimated at 98% of the platform universe.

For further information or background please contact: Bella Caridade-Ferreira, tel +44 (0)20 7720 1183, bella@fundscape.co.uk 

 

Photo (CN Tower, Toronto) by Scott Webb on Unsplash

Bella Caridade-Ferreira
bella@fundscape.co.uk
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