Allfunds jumps on Q1 beat driven by net inflows

Allfunds

23/04/2024 08:50

** Allfunds  ALLFG.AS  shares jump over 4.7% after the
Spanish fund manager posted Q1 beat driven by overall positive
net inflows
    ** End-Q1 total assets under administration (‘AuA’)
increased by 7% YoY to 1,433 billion euros ($1.53 trillion); Q1
total net revenues increased by 18% YoY to 153 million euros 
    ** Jefferies notes Q1 net revenues beat the consensus of 145
million euros by 6% and end-Q1 AuA was 1% ahead of consensus,
adding that net flows were positive in virtually all regions
    ** ING points to the higher-than-expected market performance
of 44.2 billion euros and overall positive net inflows    
    ** Jefferies says the tide is turning and the firm's
structural growth story is starting to reassert itself, adding
that today's upbeat update confirms that positive trend
 



($1 = 0.9394 euros)

 (Reporting by Michal Aleksandrowicz in Gdansk)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))