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IntegraFin sees increasingly challenging markets despite strong 2018

Published: 00:51 24 Oct 2018 AEDT

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The company had a strong year but sees challenges ahead

IntegraFin Holdings PLC (LON:IHP) said its funds under direction (FUD) had increased during the final quarter of its financial year but cautioned that the market environment was becoming increasingly challenging, denting its shares.

The company said its FUD totalled grew 18.6% to £33.1bn in the year to the end of September £33.1bn boosted by higher fund inflows and slowing outflows.

READ: St James's Place reports strong third quarter inflows of new client cash

“We report another positive FUD update in what is becoming an increasingly challenging market environment. Net inflows for the financial year were 11.7% higher than last year and outflows have decreased as a proportion of opening FUD (6.7% vs 7.2%),” CEO Ian Taylor said in a statement.

Inflows during the quarter came in at £1.51bn, up from £1.45 billion in the same quarter a year ago. Outflows increased to £537mln from £414mln, leading to a reduction in net flows to £979mln from £1.04bn.

Shares in the company were 6.7% down at 291.0p in late afternoon trade.

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