The UK platform industry followed up a great first quarter of 2021 with a second one of Olympic-style proportions and yet another clutch of records. With restrictions easing and consumers spending more, a robust recovery was to be expected. Markets didn’t disappoint — the FTSE All Share rose by 5% in the three months to June, while platform industry assets grew by 6.5% to £865.8bn.
Investment distribution specialist Finscape today announced Ascentric, part of M&G PLC, as the latest (12th) addition to the line-up of platforms supplying distribution data to its recently launched investment distribution intelligence service. Ascentric has been a participant in the design of Finscape, but the agreement to supply data was delayed by the sale of the platform to M&G in 2020.
A high viral load sent stock markets around the world into shock in March. As a result, there was a collective contraction in platform assets of £78bn to £633bn, an 11% drop, although this was considerably better than the ~ 25% fall suffered by stock markets worldwide.
This is the second press release on the platform industry in 2019. The February press release covered platform industry highlights for 2019. this press release is about individual platform performance.