Allfunds reports 16% annual jump in total AuA

Allfunds has reported that its total assets under administration (AuA) stood at €1.77trn in Q1, an increase of 16.4 per cent year-on-year.

The group said the figure underlines the “strength and resilience” of the Allfunds platform in the face of the challenging market conditions.

Allfunds, a dealing and distribution platform in the wealth management industry, was announcing a trading update for the three-month period to 31 March. It also announced that platform service AuA increased by 14.6 per cent year-on-year to €1.25trn, driven by robust net flows from both new and existing clients.

The Q1 period also saw Allfunds record net flows of €21.7bn in Q1, which the platform said represented a “strong performance”, accounting for 6.9 per cent of beginning-of-period (BoP) platform service AuA on an annualised basis.

Client onboarding continued at a solid pace in the group’s Q1, with Allfunds announcing 21 new distributors and 56 fund partners added, as clients replaced internal solutions and embraced open architecture.

Allfunds CEO, Annabel Spring, commented: “Allfunds delivered a strong set of results in the first quarter despite a complex market environment, clearly demonstrating the underlying resilience of our platform.

“With stable AuA, strong net flows including sustained growth in alternatives, we have significant momentum following our decisive refocusing last year.”

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