Quilter PLC (LON:QLT) enjoyed a stronger finish to last year, with improved net fund flows and positive market movement.
Assets under management and administration (AuMA) reached £117.8bn at the end of December, boosted by gross sales of £2.8bn and net inflows of £0.4bn in the fourth quarter after a weak previous period.
AuMA was up 7% from £110.4bn over the year, as an 11% fall in gross sales to £10.9bn was offset by stronger net inflows of £1.6bn over the year, along with strong market performance.
Client retention in 2020 was 92% versus 88% in 2019.
By the end of 2020 around £50bn, or 80% of planned UK investment platform assets had been migrated onto the FTSE 250 company’s new platform technology.
Chief executive Paul Feeney said he was particularly pleased by the consistent performance of the new UK platform throughout the year.
“Our new UK Platform will be transformational for Quilter. I am delighted that the finishing line is now in sight and am excited about the opportunity ahead of us to drive further business growth.”