IntegraFin average daily FuD hits record high in Q4

Investment platform operator Integrafin said on Tuesday that average daily funds under direction had hit record highs in Q424, boosting total group revenues for the period.

Integrafin said average daily FUD hit £63.0bn in the three months ended 30 September, up from £55.0bn at the same time a year earlier, with quarter-end FUD on its Transact platform coming to £64.1bn, up 3% during the quarter and 17% over the past year.

The FTSE 250-listed group also stated total group revenue was now expected to be roughly £145.0m for FY2, up from £134.9m in FY23.

Integrafin also highlighted "strong Q4 FY24 flows" to its Transact platform, with net inflows of £800.0m, and gross inflows of £2.2bn. Net inflows represented 5.1% of opening FUD for the quarter annualised.

Chief executive Alex Scott said: "We have seen continued positive momentum with another strong quarter of net inflows. This quarter was the highest of the financial year for net inflows. Despite macroeconomic challenges and a period of heightened withdrawals in the sector we have delivered total net inflows of £2.5bn for FY24.

"The group is well positioned for FY25 as a result of our platform proposition, structural growth drivers in the adviser platform market, and economic headwinds gradually receding. However, we remain cautious as we await the potential impact of the Autumn Budget and the outcome of the US elections on investor sentiment."

As of 0910 BST, Integrafin shares were up 4.02% at 375.00p.

Reporting by Iain Gilbert at Sharecast.com