Platform assets rise despite pre-Brexit jitters

Assets held on UK fund platforms increased in the second quarter of the year by £20 billion (€23 billion) – a period that covered the UK’s Brexit vote and saw investors head to safe-haven investments. Total assets held on platforms were £432.5 billion at the end of June, a higher rise than the FTSE All Share (4.2% versus 3.5%) over the same period. Yet data from Fundscape showed that while gross flows for Q2 were up from the previous quarter, net sales fell to £9.57 billion – the lowest total since Q3 2014 when sales were £8.8 billion. Net sales of individual savings accounts were down 79% on a like-for-like basis compared to 2015, but pension products and workplace savings together accounted for £6.5 billion of net flows. Bella Caridade-Ferreira, chief executive officer of Fundscape, said this showed investors were “resilient and pragmatic” when saving for the long term. Cofunds topped the list of platforms with the largest assets (£77.5 billion), though Aegon will gain from this when it buys Cofunds from Legal & General – a move announced last week. After the deal goes through at the end of year, Aegon’s assets will rise to £110 billion. Alliance Trust has already seen its assets boosted by the acquisition of Stocktrade, adding £3.4 billion. Direct-to-consumer platform, Hargreaves Lansdown, led net sales for both Q2 and the first half of the year, with £1.8 billion and £3.2 billion, respectively. ©2016 funds europe

Sponsored Profiles

SPONSORED FEATURE: Investing for income

May 17, 2017

Portfolio Manager Thomas Kruse examines the findings from Pioneer Investments’ survey on income investing and outlines ways of achieving a target income.

SPONSORED ARTICLE: A radical solution to KYC concerns

May 17, 2017

The 1MDB affair shows that lax know-your-customer and due-diligence procedures are a major risk, says Paolo Brignardello, head of product management and marketing, Fundsquare. New solutions are...

SPONSORED FEATURE: AIFMD - What does Brexit mean?

Apr 18, 2017

An open discussion between funds industry experts and initiated by SGG Luxembourg took place in London to examine  the implications of Brexit for UK fund managers marketing to the EU.

SPONSORED FEATURE: Luxembourg fund reporting – CRS vs FATCA

Apr 18, 2017

Luxembourg funds need clear procedures for CRS compliance, writes Andrew Knight, Partner at M Partners, a member of the Maitland network of law firms.

Executive Interviews

INTERVIEW: Finding managers that can (and do)

Apr 18, 2017

Fabrice Kremer, a fund selector at Banque de Luxembourg Investments, has berated fundamental managers for failing to beat indices, but he remains committed to active funds. He speaks to Nick...

JERSEY INTERVIEW: ‘A steady sort of place’

Mar 21, 2017

The chief executive of Jersey Finance is keen to portray the island as a stable, trustworthy jurisdiction. He talks to George Mitton.



May 17, 2017

With such an intangible product, it can be hard for asset managers to communicate what they do. Having personality and connecting with customer aspirations may be the key, our branding roundtable hears.

ROUNDTABLE: The issue is perception

Mar 21, 2017

Our panel discuss tax transparency, the elegance of private placement and why Jersey could do more to promote itself. Chaired by Tom Cowsill in Saint Helier.