Ascentric AUA passes £7bn milestone

A record year to date performance has taken Ascentric and IFDL past the £7bn milestone for assets under administration.

Total assets had risen by 46% to £6.7bn by the end of the third quarter, over the same period last year. During October, a combination of strong net inflows and a buoyant stock-market has driven total assets above £7bn for the first time, up 36% since the start of the year. Ascentric managing director Hugo Thorman said: "2013 is fast becoming a key year in the history of this platform. The post-RDR environment has certainly helped us exceed expectations in terms of net inflows, but more importantly, it laid the foundation for a major technology programme that will enable us to enhance...