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‘Highest ever’ inflows see Transact near £30bn post IPO

Platform Transact has seen its ‘highest ever’ inflows as it edges toward £30 billion of assets, in its first financial results since its initial public offering (IPO).

‘Highest ever’ inflows see Transact near £30bn post IPO

Platform Transact has seen its ‘highest ever’ H1 inflows as it edges toward £30 billion of assets, in its first financial results since its initial public offering (IPO).

For the six months ending 31 March 2018, Transact saw net inflows onto the platform of £2.2 billion, up from £1.7 billion in the same period in 2017.

Total assets under administration reached £29.8 billion This was up £1.8 billion from the end of 2017, ‘despite significantly less favourable market conditions in the second quarter’, the results said.

Ian Taylor (pictured), Transact’s chief executive, said these were the platform’s strongest ever inflows over this period.

‘Following a successful IPO, we are pleased to announce a pleasing set of results for the first half of the year. Despite the backdrop of stock market volatility, Transact achieved its highest ever H1 inflows,’ Taylor said.

‘Given our differentiated premium offering and the quality of the service we offer to advisers and their clients, we remain confident in our ability to sustain growth as we move into the second half of the year.’

The results, from Transact’s holding company IntegraFin Holdings, were the first since it floated on the London Stock Exchange in March which valued it at £650 million. Since then Transact’s share price has risen from 253p to 341p per share.

Profits at the platform were also on the rise, with pre-tax profits up 8% from the same period last year at £18.7 million.

 

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