During the same period, the FTSE 100 index posted just a 3.5% increase.
“The advised platform market now stands on the verge of £200bn, having been at £155bn this time last year (an increase of 25%), and 14 players now have assets under administration greater than £1bn compared to 12 this time last year,” Platforum said in a statement.
The data showed “significant gains” from those platforms with more than £1bn in assets under advice, a category that includes the AXA Elevate, Nucleus and Ascentric, platforms, which registered increases of 15%, 14% and 13% respectively, Platforum said.
Skandia broke the £40bn mark for the second time, having experienced a dip in the second half of 2011, “and remains the largest player in the market”, according to Platforum.
But “Cofunds and FundsNetwork are now hot on their heels, registering gains of close to 10%, to bring themselves within touching distance of the £40bn mark, [with] gross sales figures that currently out-perform” those of Skandia, Platforum said.
Cofunds was also the top performer in absolute terms “once again”, recording a £3.5bn increase, the Platforum figures revealed.
