Allfunds gains on 'steady' quarterly outflows

Allfunds

20/10/2023 13:09

** Fund distribution firm Allfunds  ALLFG.AS  rises 3.4%
after it reported Q3 outflows inline with expectations,
nonetheless noting global market volatility affected activities
of some existing clients
    ** Jefferies noted 'A quarter of steady progression' on the
trading update, remarking 'marginally better than expected' net
outflows from its existing clients
    ** 'The company shed light on a couple of positive elements
that they did not really talk about in trading update' said
Julian Dobrovolschi, analyst at ODDO BHF, on the call
    ** 'Management felt quite comfortable that they were able to
keep the business going at a single digit or low double-digit
growth organically over the midterm'; he said
    ** Julian Dobrovolschi said that the business was in good
development in his view, even if the company is still in its
early phase of development and has to 'refrain from making any
comments, especially giving any figures'

 (Reporting by Nathan Vifflin)
 ((gdansk.newsroom@thomsonreuters.com
nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))