Platform sales lowest in three years

Platform industry assets saw a 2.5% increase to £691.3bn, despite stock markets flatlining during this period, but sales played a small part in asset growth. Gross platform sales totalled £27.4bn, the lowest in three years, and net sales fell to £6.6bn, its lowest since Q4 in 2012 as the Retail Distribution Review came into effect. Geopolitical uncertainty from Brexit and the US-China trade war led to investor withdrawals rising at a faster rate than inflows, resulting in a 24% gross sales ratio. Fundscape chief executive Bella Caridade-Ferreira said the reduction in DB transfer fl...