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Investment platform IntegraFin said it had made a strong start to the year as funds under direction increased in its fiscal first quarter thanks to positive investment performance.
For the three months ended 31 December, funds under direction rose 14% to £44.82 billion year-on-year as positive market movements contributed 2.94 billion, up from £567 million year-on-year.
Net flows fell to £840 million from £959 million as outflows increased broadly as expected in line with FUD.
'Equity markets reacted positively to encouraging news on the development of Covid-19 vaccines as well as the outcome of the US election result, and this also contributed to the 14% increase in FUD over the same point last year,' the company said.
At 8:11am: (LON:IHP) Integrafin Holdings PLC share price was 0p at 497p