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.
Stock markets yoyoed and closed the third quarterly in roughly the same place as they started thanks to geopolitical concerns at home and abroad. In the UK, the third quarter kicked off with the appointment of hardline Brexiteer, Boris Johnson, as party leader and Prime Minister.
THERE MAY BE PROBLEMS AHEAD…
By the end of March 2019, stock markets had recovered from the severe whipping they’d received in the last quarter of 2018. All major markets were home to stellar growth, with even the FTSE All Share rising by 8.3% despite Brexit concerns. The upturn pushed UK platform assets up 7.3% to £637bn, a vast improvement on Q418, but only £4bn higher than Q318’s closing balance of £633bn. Hargreaves Lansdown, D2C platform and the UK’s largest distributor, moved into pole position as the UK’s largest investment platform.