'Politics and pensions' dent early 2015 platform business

A "combination of politics and pensions" contributed to slower sales across platforms in the first three months of the year, with the year-on-year (YOY) asset growth rate also receding, according to research.

Only three platforms - Aviva, Zurich and adviser-controlled proposition Nucleus - outpaced the overall 22% rise in platform assets under administration (AUA) in the 12 months since 31 March 2014, with YOY rates of 90%, 73% and 29% respectively, according to the latest report from Fundscape. The 22% annual rate was marginally below the 24% achieved in the previous 12 months. Gross sales for the first three months of the year were slightly down on the previous quarter though still strong at £21.4bn, but net sales lacked sparkle at £9.3bn. This was below both the previous quarter's £12.1...