15 Aug Platforms sales drop to two year lows post-brexit
Posted at 20:47h
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Platforms have reported their lowest net sales since 2014 in Q2 as investors cashed out...
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15 Aug Platforms sales slip to lowest level in two years
Posted at 10:27h
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Lowest level in two years, as investors decided to take shelter in cash and safe...
15 Aug Pensions save the day for platforms (Q216 results)
Posted at 09:33h
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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.”
31 May Fingers on the first quarter’s pulse…
Posted at 08:30h
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It pays to have some ready facts at the ready. Click here for the fund industry review and here for the platform review.
10 May A rocky start to the year for the platform industry as brexit fears bite – Q116 Platform press release
Posted at 08:30h
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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.
10 Nov Platforms shake off market correction with strong flows in Q3
Posted at 10:29h
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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 Strong ISA & pension flows offset by market turbulence in Q2 of 2015
Posted at 09:31h
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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.