Funds under direction (FUD) on the platform were up 7.2% in the three months to 30 June 2018, growing to £31.88bn (€35.7bn, $41.8bn) from £29.74bn.
This was weaker than the FTSE All-Share and MSCI World Index, which increased by 7.9% and 7.4% respectively.
Over the last nine months, Transact’s total funds have increased by 14.2%.
Outflows
But the UK platform saw its highest level of outflows this year. Redemptions over the third quarter came in at £487m, up from £396m and £444m in the first and second quarters.
Inflows of £1.45bn were also weaker than the previous two quarters (Q1: £1.46bn; Q2: £1.53bn).
However, net inflows for the year to date are 18.5% ahead of last year.
Integrafin chief executive Ian Taylor hailed the results as “another solid FUD update” for Transact. While outflows over the third quarter have picked up, Taylor noted they have decreased as a proportion of opening FUD (4.8% versus 5.4%).
The update comes months after Transact parent company Integrafin’s listing on the London Stock Exchange.
At the time of the initial public offering (IPO) the firm was valued at £650m. Its current market cap is now closer to £1.29bn, with shares trading at 386p per share, up 50% from the price after initially listing.
Integrafin was admitted to the FTSE 250 in May, a move which some speculated would pave the way for other wealth managers and platforms contemplating a listing.
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