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Transact powers past £34bn despite 'unhelpful background noise'

Platform Transact recorded its assets have hit £34.4 billion in a trading update covering the three months between January and March

Transact powers past £34bn despite 'unhelpful background noise'

Transact saw off 'unhelpful background noise' as assets under administration passed £34 billion at the end of March. 

A trading update published this morning by Transact parent company Integrafin showed that for the three months between January and March 2019 the platform saw inflows of £1.4 billion and outflows of £518 million. 

This meant Transact recorded £926 million of net inflows in the first three months of 2019, compared to £1.1 billion in the same quarter last year. 

Despite the slightly lower inflows in 2019, the platform's business figures were also boosted by positive market movements since the start of 2019, which added £1.8 billion of assets. Market movements were negative in the same period in 2018, falling £1.1 billion. 

As a result Transact's assets grew from £31.7 billion at the start of January to £34.4 billion at the end of the quarter. 

Transact chief executive Ian Taylor (pictured) said assets under administration 'have shown strong growth' since the start of the year. 

'Political and economic uncertainties have not gone away, however, and still give rise to unhelpful background noise,' he added. 

Watch: Citywire at 20: Ian Taylor on Transact's two decade journey

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