IntegraFin Holdings (IHP) Trading Update summary

Performance highlights

• Net inflows to the Transact platform reached £0.9bn in Q1 FY25, up from £0.3bn in Q1 FY24, representing 5.7% of opening FUD annualised.

• Funds under direction (FUD) hit a record £65.9bn, up 3% in the quarter and 14% year-on-year.

• Gross inflows reached a record £2.4bn, compared to £1.7bn in the prior year period.

• Average daily FUD for Q1 FY25 was £65.5bn, up from £55.5bn in Q1 FY24.

• Platform client numbers grew to 238,000, up from 231,400 a year earlier.

Market and operational drivers

• Digitalisation enhancements and service improvements contributed to strong inflows and client growth.

• Global equity market strength, especially post-US election, supported record FUD levels.

• Anticipation of the UK Autumn Budget led to increased client activity in October, with inflows and outflows normalising in November and December.

• Long-term structural growth drivers for the UK adviser platform market remain positive.

Financial and client metrics

• Q1 FY25 opening FUD: £64.1bn; closing FUD: £65.9bn.

• Q1 FY25 inflows: £2.4bn; outflows: £1.5bn; net flows: £0.9bn.

• Market movements contributed £880m to FUD in Q1 FY25.

• Number of platform clients at Q1 FY25: 237,978.