Archive

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.

Last week we published the quarterly Platform Report, which attracted much attention.  Total industry assets now stand at £267bn, and although it was the quietest quarter of the year, gross and net flows were pretty robust at £17bn and £8.9bn.  (Download press release here and 60-second reviews here).

The summer period is usually one of the quieter quarters of the year, but an improving economic outlook and the ongoing effect of the Retail Distribution Review (RDR) led to a bumper quarter for platforms. Total platform assets under administration were £267bn, up 7% in the second quarter, and comfortably ahead of FTSE All-Share growth of 5%.

Our 60-second reviews are designed to provide industry professionals with succinct information on the quarter's trends.  For fund industry trends click here, and platform trends are available here.

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.