02:00 Wed 22 Jan 2020
AJ Bell PLC - Q1 Trading Update
Q1 trading update
Performance overview
Total customer numbers increased by 4% in the quarter to 241,152, with total assets under administration up 5% to
· Platform customer numbers increased by 9,033 to 227,202, up 4% in the quarter
· Platform AUA increased by 5% over the quarter to
o Advised Platform AUA up 4% to
o D2C Platform AUA up 8% to
· Underlying platform inflows, representing organic growth in the quarter, increased to
"Our investment platform continues to attract new customers and assets as we maintain our focus on being the easiest platform to use in order to help our customers to invest.
"December saw the unlocking of the parliamentary deadlock, which boosted markets towards the end of the period. Combined with positive net inflows onto the platform, this helped our platform assets under administration increase to a new high of
"Whilst Brexit is by no means resolved, a majority Government does at least provide some clearer direction which many investors will appreciate as they consider making the most of their ISA and pension allowances before the end of the tax year."
Three months ended |
Advised Platform £billion |
D2C Platform £billion |
Total Platform £billion |
Non-platform £billion |
Total £billion |
|
|
|
|
|
|
Opening AUA |
33.8 |
11.1 |
44.9 |
7.4 |
52.3 |
|
|
|
|
|
|
Underlying inflows(1) |
0.8 |
0.5 |
1.3 |
- |
1.3 |
Outflows(2) |
(0.4) |
(0.2) |
(0.6) |
(0.1) |
(0.7) |
Underlying net inflows/(outflows) |
0.4 |
0.3 |
0.7 |
(0.1) |
0.6 |
|
|
|
|
|
|
DB inflows(3) |
0.2 |
- |
0.2 |
- |
0.2 |
|
|
|
|
|
|
Total net inflows/(outflows) |
0.6 |
0.3 |
0.9 |
(0.1) |
0.8 |
|
|
|
|
|
|
Market and other movements(4) |
0.8 |
0.6 |
1.4 |
0.2 |
1.6 |
Closing AUA |
35.2 |
12.0 |
47.2 |
7.5 |
54.7 |
|
|
|
|
|
|
Customers |
100,170 |
127,032 |
227,202 |
13,950 |
241,152 |
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
Advised Platform £billion |
D2C Platform £billion |
Total Platform £billion |
Non-platform £billion |
Total £billion |
|
|
|
|
|
|
Opening AUA |
29.9 |
8.7 |
38.6 |
7.5 |
46.1 |
|
|
|
|
|
|
Underlying inflows(1) |
0.8 |
0.4 |
1.2 |
- |
1.2 |
Outflows(2) |
(0.4) |
(0.2) |
(0.6) |
(0.3) |
(0.9) |
Underlying net inflows/(outflows) |
0.4 |
0.2 |
0.6 |
(0.3) |
0.3 |
|
|
|
|
|
|
DB inflows(3) |
0.3 |
- |
0.3 |
- |
0.3 |
Migration inflows(5) |
- |
0.2 |
0.2 |
- |
0.2 |
|
|
|
|
|
|
Total net inflows/(outflows) |
0.7 |
0.4 |
1.1 |
(0.3) |
0.8 |
|
|
|
|
|
|
Market and other movements(4) |
(2.0) |
(0.4) |
(2.4) |
(0.3) |
(2.7) |
Closing AUA |
28.6 |
8.7 |
37.3 |
6.9 |
44.2 |
|
|
|
|
|
|
Customers |
90,865 |
99,633 |
190,498 |
13,985 |
204,483 |
(1) Includes transfers-in, subscriptions, contributions and tax relief, excluding inflows from DB pension transfers and bulk migrations
(2) Includes transfers-out, cash withdrawals, benefits and tax payments
(3) Inflows from defined benefit pension transfers
(4) Includes charges, taxes deducted, investment returns and revaluations
(5)
Contacts:
·
·
Historical AUA and customer numbers by quarter
Advised Platform
AUA (£billion) |
Qtr to 31 December 2018 |
Qtr to 31 March 2019 |
Qtr to 30 June 2019 |
Qtr to 30 September 2019 |
Qtr to 31 December 2019 |
|
|
|
|
|
|
Opening AUA |
29.9 |
28.6 |
30.9 |
32.8 |
33.8 |
|
|
|
|
|
|
Underlying inflows(1) |
0.8 |
0.8 |
0.9 |
0.9 |
0.8 |
Outflows(2) |
(0.4) |
(0.4) |
(0.4) |
(0.4) |
(0.4) |
Underlying net inflows |
0.4 |
0.4 |
0.5 |
0.5 |
0.4 |
|
|
|
|
|
|
DB inflows(3) |
0.3 |
0.2 |
0.2 |
0.2 |
0.2 |
|
|
|
|
|
|
Total net inflows |
0.7 |
0.6 |
0.7 |
0.7 |
0.6 |
|
|
|
|
|
|
Market and other movements(4) |
(2.0) |
1.7 |
1.2 |
0.3 |
0.8 |
Closing AUA |
28.6 |
30.9 |
32.8 |
33.8 |
35.2 |
|
|
|
|
|
|
Customers |
90,865 |
93,496 |
96,083 |
98,056 |
100,170 |
D2C Platform
AUA (£billion) |
Qtr to 31 December 2018 |
Qtr to 31 March 2019 |
Qtr to 30 June 2019 |
Qtr to 30 September 2019 |
Qtr to 31 December 2019 |
|
|
|
|
|
|
Opening AUA |
8.7 |
8.7 |
9.7 |
10.6 |
11.1 |
|
|
|
|
|
|
Underlying inflows(1) |
0.4 |
0.5 |
0.6 |
0.5 |
0.5 |
Outflows(2) |
(0.2) |
(0.1) |
(0.1) |
(0.2) |
(0.2) |
Underlying net inflows |
0.2 |
0.4 |
0.5 |
0.3 |
0.3 |
|
|
|
|
|
|
Bulk migration inflows(5) |
0.2 |
- |
- |
- |
- |
|
|
|
|
|
|
Total net inflows |
0.4 |
0.4 |
0.5 |
0.3 |
0.3 |
|
|
|
|
|
|
Market and other movements(4) |
(0.4) |
0.6 |
0.4 |
0.2 |
0.6 |
Closing AUA |
8.7 |
9.7 |
10.6 |
11.1 |
12.0 |
|
|
|
|
|
|
Customers |
99,633 |
107,426 |
114,682 |
120,113 |
127,032 |
Non-platform
AUA (£billion) |
Qtr to 31 December 2018 |
Qtr to 31 March 2019 |
Qtr to 30 June 2019 |
Qtr to 30 September 2019 |
Qtr to 31 December 2019 |
|
|
|
|
|
|
Opening AUA |
7.5 |
6.9 |
7.1 |
7.3 |
7.4 |
|
|
|
|
|
|
Inflows(1) |
- |
0.1 |
- |
- |
- |
Outflows(2) |
(0.3) |
(0.1) |
- |
(0.1) |
(0.1) |
Net outflows |
(0.3) |
- |
- |
(0.1) |
(0.1) |
|
|
|
|
|
|
Market and other movements(4) |
(0.3) |
0.2 |
0.2 |
0.2 |
0.2 |
Closing AUA |
6.9 |
7.1 |
7.3 |
7.4 |
7.5 |
|
|
|
|
|
|
Customers |
13,985 |
13,931 |
13,879 |
13,897 |
13,950 |
|
|
|
|
|
|
Total closing AUA |
44.2 |
47.7 |
50.7 |
52.3 |
54.7 |
(1) Includes transfers-in, subscriptions, contributions and tax relief, excluding inflows from DB pension transfers and bulk migrations
(2) Includes transfers-out, cash withdrawals, benefits and tax payments
(3) Inflows from defined benefit pension transfers
(4) Includes charges, taxes deducted, investment returns and revaluations
(5)
About
Established in 1995,
We operate in both the advised and direct-to-consumer segments of the platform market and our flagship platform propositions are AJ Bell Investcentre (advised) and AJ Bell Youinvest (direct-to-consumer).
We offer SIPPs, ISAs and General Investment / Dealing Accounts. We aim to make it easy for our customers to invest by providing them with additional support in the form of various investment solutions and information. We offer a broad investment range including shares and other instruments traded on the major stock exchanges around the world, as well as all mainstream collective investments available in the
Forward-looking statements
This announcement contains forward-looking statements that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding
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