Earnings Release • Oct 20, 2021
Earnings Release
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London/Madrid/Amsterdam - Allfunds Group plc ("Allfunds") (1) (TICKER: ALLFG) one of the world's leading B2B WealthTech platforms connecting fund houses and distributors, today releases a trading update for the third-quarter period ended 30 September 2021.
Allfunds continues attracting clients to the platform:
"While the reduced market performance in Q3 has led to some slowdown of our activity in this quarter, Allfunds has had a strong performance in terms of growth, and we have continued with a positive trend in our organic growth levers: strong flows from existing clients and good pace on new client migrations across all our markets.
As of September, we have seen net flows on Allfunds traditional AuA representing a 21%, on an annualised basis, over BoP AuA(5) , continuing with a record performance not seen in the last 4 years.
We continue progressing with our key strategic initiatives and building up our scalability, reaching over €1.4 trillion AuA and a stronger market position."
| Figures in EUR bn, unless otherwise stated | 3Q 2021 YTD |
3Q 2020 YTD |
Change YTD (%) |
3Q 2021 | 3Q 2020 | Change y-o-y (%) |
June 2021 |
|---|---|---|---|---|---|---|---|
| AuA EoP | 1,412.5 | 579.8 | 143.6% | 1,412.5 | 579.8 | 143.6% | 1,348.4 |
| Allfunds traditional(2) | 914.5 | 579.8 | 57.7% | 914.5 | 579.8 | 57.7% | 881.0 |
| BNPP Other(6) | 498.0 | - | - | 498.0 | - | - | 467.4 |
| Allfunds traditional | |||||||
| Net flows | 118.2 | 25.7 | n.m. | 32.7 | 14.5 | 126.1% | 85.5 |
| Flows from existing clients | 71.2 | 3.8 | n.m. | 19.9 | 7.9 | 152.2% | 51.3 |
| Flows from new clients (migrations) | 47.0 | 21.8 | 115.2% | 12.8 | 6.6 | 94.7% | 34.2 |
| Market performance | 50.0 | (12.2) | n.m. | 0.7 | 11.6 | (93.8)% | 49.3 |
| Net flows as a % of BoP AuA(3) | 15.8% | 4.5% | 3.7% | 2.6% | 11.5% | ||
| Net flows as a % annualised of BoP AuA(5) | 21.1% | 6.1% | 14.9% | 10.5% | 22.9% | ||
| BNPP Other | |||||||
| BNPP flows(4) | 85.6 | 30.6 | 55.0 | ||||
| Net flows + market performance as a % of BoP AuA(4) |
20.7% | 6.6% | 13.3% | ||||
| Net flows + market performance as a % annualised of BoP AuA(7) |
27.7% | 26.2% | 26.6% |
Note: AuA refer to Assets under administration at End of Period ("EoP") 30 September 2021
(1) Including Allfunds Bank, S.A.U. and its branches and affiliates
(2) Allfunds traditional AuA includes Allfunds standalone, acquisitions of Nordic Fund Market and CS as well as BNPP Local Paying Agent business (3) Calculated as the sum of flows from existing clients and from new clients over Allfunds traditional AuA only as of beginning of period, excluding acquired AuA coming from the BNPP Other portfolio which will be transferred during 2021 and 2022. For 3Q 2021, beginning of period is
considered June 2021 (amounting to €881bn) and for YTD 2021, beginning of period is considered December 2020 (amounting to €746bn) (4) Flows coming from BNPP Other portfolio refer to both market performance and flows from existing clients. Percentage calculated as total BNPP flows over BNPP Other AuA as of beginning of period (for 3Q 2021, considering €467bn as of June 2021 and for June and YTD, considering €412bn as of December 2020)
(5) Annualised net flows based on net flows in the quarter, in June or as of September. For 3Q 2020, BoP is considered June 2020 (amounting to €553bn) and for June or YTD 2020, beginning of period is considered December 2019 pro-forma (amounting to €566bn)
(6) Only AuA coming from BNPP (i.e. excluding AuA from BNPP Local Paying Agent business)
(7) Annualised BNPP flows (including based on net flows and market performance) in the quarter, in June or as of September. For 3Q 2020, BoP is considered June 2020 (amounting to €467bn) and for June or YTD 2020, beginning of period is considered December 2019 pro-forma (amounting to €412bn)
Contacts
Allfunds Group Plc
Katherine Sloan, Head of Marketing and Communications +34 691 369 407 +34 91 272 35 99 [email protected] [email protected]
FTI Consulting
Daisy Hall +44 (0) 7807 298 568 [email protected]
Jenny Boyd +44 (0) 7971 005 577 [email protected]
Silvia Rios, Head of Investor Relations
At 10.00 CET / 9.00 GMT / 4.00 EST, today, 20 October 2021, Juan Alcaraz, CEO, and Amaury Dauge, CFO, will host a conference call to present the trading update and offer an update on the business outlook. The dial-in details are the following: please dial-in 10 minutes before the call starts. Spain: + 34 919 01 16 44 or Spain toll free number 900 053 626; United Kingdom: + 44 020 3936 2999 or UK toll free number 0800 640 6441; United States: + 1 646 664 1960 or US toll free 1 855 9796 654.
A conference call replay will be available on our website on Wednesday, 20 October 2021 at 13.00 CET / 12.00 GMT / 7.00 EST and ending at midnight on Wednesday, 17 November 2021 at www.investors.allfunds.com.
For the purposes of this disclaimer, Allfunds Group plc and its consolidated subsidiaries are referred to as "Allfunds".
This press release does not constitute or form part of, and should not be construed as, an offer of securities nor a solicitation to make such an offer, in any jurisdiction. The press release neither constitutes investment advice or recommendation with respect to any securities of Allfunds, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any purchase of or subscription for securities of Allfunds shall be based solely on each investor's own analysis of all public information, the assessment of risk involved and its own determination of the suitability of any such investment. No reliance shall be placed, and no decision shall be based, on this Presentation.
The distribution of this document in some jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.
This document is subject to, and should be viewed solely in conjunction with, all the publicly available information provided by the Allfunds. It does not intend to provide, and recipients may not rely on these materials as providing, a complete or comprehensive analysis of Allfunds' financial or trading position or prospects.
The information and opinions contained in this document are provided as at its date and are subject to verification, correction, completion and change without notice. No obligation is undertaken to provide access to any additional information that may arise in connection with it.
Certain statements in this document may be forward-looking. There are a number of risks, uncertainties and other important factors which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changing economic, business or other market conditions, changing political conditions and the prospects for growth anticipated by the management of Allfunds. Any forward-looking statements contained in this Presentation based upon past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Allfunds does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No undue reliance should be placed in such forward-looking statements.
This document may contain non-IFRS alternative performance measures. Allfunds considers these non-IFRS measures to be useful metrics for our management and investors to compare operating performance between accounting periods, but they should be considered supplemental information to, and are not meant to substitute, IFRS measures. For further details on non-IFRS measures, including its definition or a reconciliation with IFRS measures, please see the initial public offering prospectus of Allfunds available on the corporate website (www.allfunds.com).
Registration number 10647359
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