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Nucleus Financial Gp - Q2 2019 AUA update

RNS Number : 7910G
Nucleus Financial Group PLC
26 July 2019
 

26 July 2019

Nucleus Financial Group plc

('Nucleus' or the 'Company')

Q2 2019 AUA update

 

Assets under administration increase 6.9%

 

Nucleus (AIM: NUC), a leading independent wrap platform provider, today publishes an update on its assets under administration (AUA) in respect of the three month period to 30 June 2019.

The Company continues to grow AUA, which stood at £15.3bn as at 30 June 2019, up 6.9% over Q2 2018 and 3.9% on the previous quarter. By comparison, the FTSE All-Share Index fell by 3.5% year-on-year and increased 2.0% over the quarter.

Highlights

-       AUA increased to £15.3bn, up 6.9% year-on-year and an increase of 3.9% on the previous quarter

-       Gross inflows increased for the second consecutive quarter and were up 4.7% on the previous quarter

-       Advisers actively using the platform increased to 1,383, up 1.9% year-on-year

-       Customer numbers rose to 95,657, an increase of 5.5% year-on-year and 1.6% over the previous quarter

-       Continued investment in the core platform proposition in Q2 included:

improved pensions and drawdown capabilities including automated phased drawdown;

successful transition to a new stockbroking service bringing lower trading costs for clients, improved operational efficiencies and greater flexibility to improve future trading functionality; and

regulatory compliance with new Mifid II statement of costs and charges.

-       Awarded CoreData's 'Best medium sized platform 2019' - for the eighth successive year

AUA and inflows


Quarter ended
30 June 2019

Quarter ended

31 March 2019

Quarter ended

30 June 2018

H1 ended

30 June 2019

H1 ended
30 June 2018


£m

£m

£m

£m

£m

Opening AUA

14,753

13,884

13,527

13,884

13,577

Inflows

488

466

600

955

1,265

Outflows

(377)

(332)

(285)

(709)

(539)

Net flows

111

134

315

246

726

Market movements

468

735

497

1,202

36

Closing AUA

15,332

14,753

14,339

15,332

14,339

Daily average AUA

15,047

14,399

14,086

14,725

13,849

 

David Ferguson, Nucleus' founder and CEO, commented:

"Momentum in the business has continued in the second quarter with AUA increasing around 7% year-on-year compared to a FTSE All-Share decrease of 3.5% in the same period. Gross inflows increased by 4.7% on the previous quarter which is pleasing against a backdrop of unsettled market conditions driven by ongoing political and economic uncertainty, which is likely to continue into Q3, and we achieved our second consecutive quarter of improving gross inflows. Outflows remain higher than expected, primarily due to increased outflows from a small number of firms that have been acquired by consolidators.

"The change to our technology model in November 2018 increased our change velocity. In Q2 we have delivered a substantially improved pensions and drawdown capability, alongside a new stockbroking service that brings significantly reduced trading costs for clients, and completed our Mifid II regulatory costs and charges disclosure. Having delivered a number of propositional changes in the first half of the year, we intend to continue to build on this momentum with a series of further enhancements that will improve service delivery and operational resilience."

 

Historical flows and AUA data by quarter


Q3 2016

Q4 2016

Q1 2017

Q2 2017

Q3 2017

Q4 2017

Q1 2018

Q2 2018

Q3 2018

Q4 2018

Q1 2019

 

Q2 2019


£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

£m

Opening AUA

9,800

10,659

11,144

11,897

12,401

12,889

13,577

13,527

14,339

14,693

13,884

14,753

Inflows

434

507

653

671

687

597

665

600

563

462

466

488

Outflows

(203)

(214)

(225)

(249)

(261)

(205)

(254)

(285)

(281)

(277)

(332)

(377)

Net flows

231

293

428

422

426

392

411

315

282

185

134

111

Market movements

628

192

325

82

62

296

(461)

497

72

(994)

735

468

Closing AUA

10,659

11,144

11,897

12,401

12,889

13,577

13,527

14,339

14,693

13,884

14,753

15,332

Daily average AUA

10,373

10,849

11,518

12,198

12,715

13,313

13,609

14,086

14,585

14,202

14,399

15,047

 

~ Ends ~

For further information please contact:

Nucleus           

David Ferguson, CEO                                                     Tel: +44 (0)13 1226 9800

Stuart Geard, Chief Financial Officer       

 

Shore Capital (Nominated Adviser and Broker)         

Hugh Morgan                                                                   Tel: +44 (0)20 7408 4090

Edward Mansfield               

Daniel Bush 

 

Camarco (Media enquiries)    

Jennifer Renwick                                                             Tel: +44 (0)20 3757 4994

Jake Thomas    

 

Notes to Editors

About Nucleus

Nucleus is a wrap platform founded in 2006 by advisers committed to altering the balance of power in the industry by putting the customer centre stage.  It provides independent wrap platform services to 1,383 active adviser users and works with more than 870 financial adviser firms as at 30 June 2019. It is responsible for AUA of £15.3bn on behalf of more than 95,000 customers.

The multi award-winning platform offers a range of custody, trading, payment, reporting, fee-handling, research and integration services across a variety of tax wrappers and more than 6,500 asset choices including cash, OEICs, unit trusts, offshore funds, structured products and listed securities, including ETFs and investment trusts. The platform currently facilitates over 1.1 million customer account transactions on average per month.

Nucleus has won CoreData's 'Best medium sized platform' for 2019 (and the last eight years), the Schroders 'Platform of the Year' award for 2018 (and the last three years) and won 'Best Platform' and 'Platform Innovation' at the 2018 Money Marketing Awards.

 


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