Platform sales hit record high in Q2 as Budget boosts sentiment

Anna Fedorova
clock

Platform sales reached a new record in the second quarter, according to a Fundscape report which pointed to Budget reforms as a key driver of the surge in interest.

Net sales from April to June rose 21% on like-for-like sales in 2013 to £11bn, according to the consultancy's platform report. Gross sales rose by 19% to £21.2bn. Fidelity, Hargreaves Lansdown and Standard Life saw the strongest inflows during the quarter: combined net sales on the three platforms accounted for half of total net sales. Retail advised sales remained strong despite the continued rise of D2C platforms, accounting for almost half of all platform sales on the quarter, Fundscape added - with Standard Life a particular beneficiary. Total platform assets under administrati...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Platforms

Manager of Columbia Threadneedle UK Social Bond Simon Bond, who hands over fund management responsibilities at the end of the month.

Square Mile downgrades Columbia Threadneedle UK Social Bond on Simon Bond's departure

Somerset GEM loses rating

Melanie Boulton
clock 08 June 2022 • 2 min read
Global Equity Income became the best-selling IA sector in April

ISA season boost reverses fund outflows

£553m inflows over April

Melanie Boulton
clock 06 June 2022 • 1 min read
Vanguard LifeStrategy is one of the UK's best selling fund ranges

Vanguard expands 'LifeStrategy' brand into model portfolios

MPS Classic and MPS Global

Elliot Gulliver-Needham
clock 06 June 2022 • 1 min read
Trustpilot