How 13 platforms fared in Q2 2018 amid sales slowdown

See how 13 platforms did in Q2 2018 according to the latest data from Fundscape.

The second quarter of 2018 saw a sales slowdown hitting both retail and adviser platforms, according to the latest data from Fundscape.

Platforms had to rely on an increase in the stock market to stop their assets falling; the FTSE 100 and FTSE All Share were up 8% over the quarter which managed to erase the falls in Q1, the platform update said.

However net inflows of £12.4 billion across all platforms was the lowest level since Q3 2017.

Fundscape attributed some of this sale slowdown to uncertainty around the regulator’s defined benefit transfer review.

Bella Caridade-Ferreira, Fundscape chief executive, said: ‘Thanks to the ISA season the second quarter is usually the best of the year, but it’s looking like it might be the worst. Stock market volatility and global geopolitical uncertainty has unnerved investors and they’re staying away in droves.

‘The first half of the year usually sets the tone for the second half, and with heightened political tensions unlikely to dissipate any time soon, that tone is likely to be risk averse and soft. Platforms and fund groups need to plan and prepare for the difficult months ahead.’

Read on to see which platforms saw the biggest asset growth over the quarter.

The second quarter of 2018 saw a sales slowdown hitting both retail and adviser platforms, according to the latest data from Fundscape.

Platforms had to rely on an increase in the stock market to stop their assets falling; the FTSE 100 and FTSE All Share were up 8% over the quarter which managed to erase the falls in Q1, the platform update said.

However net inflows of £12.4 billion across all platforms was the lowest level since Q3 2017.

Fundscape attributed some of this sale slowdown to uncertainty around the regulator’s defined benefit transfer review.

Bella Caridade-Ferreira, Fundscape chief executive, said: ‘Thanks to the ISA season the second quarter is usually the best of the year, but it’s looking like it might be the worst. Stock market volatility and global geopolitical uncertainty has unnerved investors and they’re staying away in droves.

‘The first half of the year usually sets the tone for the second half, and with heightened political tensions unlikely to dissipate any time soon, that tone is likely to be risk averse and soft. Platforms and fund groups need to plan and prepare for the difficult months ahead.’

Read on to see which platforms saw the biggest asset growth over the quarter.

Cofunds (not including Aegon) 

Total assets as of Q218: £95.6 billion of assets

Asset growth: £4.9 billion

Hargreaves Lansdown

Total assets as of Q218: £91.6 billion

Asset growth: £7.4 billion

Fidelity

Total assets as of Q218: £81.6 billion

Asset growth: £4.8 billion

Standard Life

Total assets as of Q218: £56.3 billion

Asset growth: £2.8 billion

Quilter (formerly Old Mutual Wealth)

Total assets as of Q218: £53.7 billion

Asset growth: £2.8 billion

AJ Bell

Total assets as of Q218: £36.7 billion

Asset growth: £2.9 billion

Transact

Total assets as of Q218: £31.9 billion

Asset growth: £2.1 billion

James Hay

Total assets as of Q218: £26.2 billion

Asset growth: £844 million

Aegon

Total assets as of Q218: £25.5 billion

Asset growth: £2.8 billion

Aviva

Total assets as of Q218: £22.7 billion

Asset growth: £1.9 billion

Alliance Trust Savings

Total assets as of Q218: £15.8 billion

Asset growth: £740 million

Ascentric

Total assets as of Q218: £15.1 billion

Asset growth: £814 million

Nucleus

Total assets as of Q218: £14.3 billion

Asset growth: £466 million

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