Key highlights
• Strong AuA growth. Allfunds' total assets under administration ('AuA') increased by 9% year-on-year to €1,467 billion, representing a 6% increase since December 2023.
• Continuous recovery in flows from existing clients with improving monthly trends:
- Five consecutive months of positive organic flows
- All regions have experienced stable flows or inflows in the quarter (amounting in aggregate to €10.6 billion of inflows in these regions in 1H);
- Largest inflows in 1H occurred in the fixed income asset class (€12.0 billion), indicating trend towards higher value-added asset classes and continuation of re-risking.
• Highest ever half net revenues. Total net revenues of €310 million in 1H 2024, representing a 16% increase year-on-year.
• Record interim Adjusted EBITDA of €210 million, with a 22% increase year-on-year and implying an adjusted EBITDA margin of 68%.
• Allfunds Alternatives Platform driven by good momentum and increasing appetite in the wealth management space: 27% growth YTD in distribution reaching €7.1bn AuA. Total alternatives at €16bn.
• Upcoming new proprietary Allfunds ETP platform, a one-stop shop solution offering an open-architecture model for the distribution of ETFs, to be launched in Q1 2025.
Juan Alcaraz, Chief Executive Officer and Founder, said:
"Allfunds delivered strong, broad-based growth in the first half. The recovery of the platform business is a fact and we have experienced the return of positive flows to the platform. We can now confirm that all of our engines will contribute positively, accelerating our growth potential. The financial performance achieved has again reached record figures in the history for the Company, demonstrating our strong business model and quality of our earnings, more diversified than ever. We are on track to deliver all this year's targets.
I am excited about the progress we are making with the growth and performance of both our Alternatives Solutions platform and our subscription-based business. Our partnership and collaboration with Google Cloud is beginning to deliver tangible value, materializing a promising pipeline of business opportunities and efficiencies that are driving innovation forward.
Finally, I am thrilled about the upcoming ETP platform which represents a game-changing opportunity for the market and for our clients. We are building an even stronger proposition by combining three platforms in one: i) long-only funds, ii) alternatives and now, iii) ETPs. This is the future of mutual fund distribution: a revolutionary solution that merges the best of three distinct distribution platforms into a single powerful ecosystem."
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https://www.afm.nl/downloadregisterfile.aspx?type=openbaarmaking-voorwetenschap&enc=7Rpj0BBaMD5lzfwUlyQ9TIe+XbKYS1JE7+GVfXY2PxNqAT3NVNKp3QCQcI2WUb5gS/PYmhvg5EA+E7FpgiengZj0NLAMUDbP/oPnUtKH27VA0/CZGu7E4hLGdYYwwWpdeCPAGak43rSF6HwlNEc+7YFf3ACpW6esra+Ew1/sQRZbgde6k07QYTUS5Q9i3/q1AfUlPwtgrviv2BuEelXLffsw82g+5cxyh1HJ81KtURZLakU5GaJT2Mbw2juEoEd2JHE8NaxoYP45+QVpS2vTWqx9p4bLLH8f5CUMEn0rvvpgoDrl46XcyYjQKEXuhBKgArzOtlIBksGYM37xUGXhag==
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