Allfunds: Flows From Existing and New Clients Stand Out in First Quarter

Allfunds published its first-quarter trading update, showing a 13% increase in assets under administration compared with the same period last year. On the back of this decent performance, Allfunds collected EUR 162.6 million in net revenue, up 10.3% year over year. Lower net treasury income of EUR 21.9 million, down 16.2%, weighed on net revenue as was to be expected with lower interest rates. However, higher cash balances offset part of the lower interest rate contribution.