Archive
08 Feb The platform industry breaks all records in 2021
Posted at 15:39h
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We’re unable to publish individual platform data until the last publicly listed platform has reported its results on 9th March 2022. As a result, here is the first of two press releases for Q421/2021 platform data1. This press release reviews the significant growth in assets and flows at a market level in 2021.
11 Nov Lack of petrol & people drag on platforms in Q3 (plus projections to 2026)
Posted at 15:39h
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After the heady growth and the robust ISA season of the first half of the year, the third quarter of the year was decidedly pedestrian. Stock markets flatlined as oil and labour shortages dragged on economies and depressed consumer sentiment. Despite this, UK platform assets rose by 2.7% to £891.5bn, while gross and net sales dropped back slightly on the previous quarter to £37.8bn and £13.7bn respectively.
20 Dec A Sipp could cost you £30,000
Posted at 09:54h
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Here's how to choose your provider wisely...
08 Aug Woodford damage to Hargreaves splits analysts as new business falls
Posted at 09:00h
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Neil Woodford’s suspended equity income fund has had a minimal impact on Hargreaves Lansdown’s bottom...
19 Mar Brexit, brinkmanship and pensions
Posted at 08:00h
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It’s been a tough year for fund groups and platforms alike with Brexit and other worries cooling the markets. Initially, platforms were cushioned from the worst by ongoing DB transfer business, but by the second half of the year that business was also drying up. Year-on-year asset growth was a meagre 4%, while gross and net sales have plummeted. The economics are relatively unchanged, but investors have been spooked by Brexit and US-China trade wars.
For full press release click here.
13 Feb Platform Industry Highlights 2017
Posted at 12:04h
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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.
02 Mar Quality of research varies greatly from shortlist to shortlist
Posted at 14:32h
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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.
15 May Robust start to the year for platforms in Q1
Posted at 08:06h
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Owing to geopolitical uncertainty, the first quarter of 2014 was more volatile for investment growth, but platforms swam against the tide thanks to strong sales. In the first three months of the year, the stock market contracted by 3%. Platforms are inevitably affected by market movements, but instead of shrinking, total platform assets actually increased by 3.3% to £304bn over the quarter.
Click here to read the full press release.
26 Mar L&G acquires Cofunds
Posted at 14:05h
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After months, if not years of rumour, L&G has finally acquired the Cofunds platform. The insurance company was one of six shareholders that first came together to challenge Fidelity in the supermarket world more than 12 years ago. Since then, Cofunds has grown to assets of more than £50bn and is the leading platform in the market by AUA. It grew and became part of the established platform industry, losing its newcomer, cutting-edge status in the process. Which may well be why the other five stakeholders were willing to sell to L&G — that and the fact that running a platform business is very expensive.
30 Nov Distribution flounders in the third quarter…
Posted at 13:09h
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Fundscape's Q3 Distribution Report has just been published. Overall, it was a difficult third quarter for fund distribution. Gross sales totalled £22.1bn and were down 5% in the previous quarter and also in the same period in 2011. but highlighting the lack of sticky business was the fact that net sales fell 41% to £2bn. The press release is available here.
15 Aug Head winds get stronger for fund managers in Q2 2012
Posted at 07:59h
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The usual flurry of ISA business at the beginning of the tax year gave fund sales a welcome boost in the second quarter. Net retail sales reached their highest level for a year. Managers with the right sort of funds benefitted. Meanwhile the trend towards more investment outsourcing by financial advisers continued. To see the rest of this press release click here.