London/Madrid/Amsterdam. 21 April 2026 – Allfunds Group plc (“Allfunds” or the ”Company”) (AMS: ALLFG),a leading global dealing and distribution platform in the wealth management industry, today releases a trading update for the three month-period ended 31 March, 2026.
Flows and commercial dynamics
- Allfunds’ total assets under administration (AuA) stood at €1,766 billion, broadly in line with the end of 2025 and representing an increase of 16.4% year-on-year, underlining the strength and resilience of the Allfunds platform in the face of the challenging market conditions.
- Platform service AuA rose by 14.6% year-on-year to €1,253 billion, driven by robust net flows from both new and existing clients:
- Net flows of €21.7 billion in the first quarter represented a strong performance and accounted for 6.9% of Beginning-of-Period (BoP) platform service AuA on an annualised basis.
- Flows from existing clients reached €20.5 billion in the first quarter, equivalent to 6.6% of BoP platform service AuA on annualised basis.
- Migrations for the quarter remained broadly flat at €1.2 billion, driven by the timing impact of the deferred onboarding of a large new client.
- Market performance was -€18.4 billion in the first quarter, impacted by recent market volatility.
- Net flows of €21.7 billion in the first quarter represented a strong performance and accounted for 6.9% of Beginning-of-Period (BoP) platform service AuA on an annualised basis.
- Dealing & Execution AuA continued to grow, increasing 21.0% year-on-year to €512 billion.
- Allfunds’ alternatives business continued to perform strongly and attract significant investor interest from both distributors and fund partners. As of 31 March 2026, 233 alternative fund partners are available on the platform, a 30.9% increase year-on-year and 9.4% since December 2025.
- Allfunds Alternatives Solutions grew to €37.9 billion AuA, 61.0% year-on-year and 12.1% since the end of 2025, driven by increasing retail customer appetite. A total of €20.7 billion of the overall alternatives AuA are under distribution agreement, reflecting a 68.0% increase versus the same period in 2025.
- Client onboarding continued at a solid pace in the first quarter, with 21 new distributors and 56 fund
- partners added, as clients replaced internal solutions and embraced open architecture.
Financial performance
- Total net revenue was €170.9 million in the first quarter, an 8.3% year-on-year increase, with solid structural growth of 10.3% excluding Net Treasury Income(“NTI”).
- Platform revenue reached €157.8 million, an 8.4% year-on-year increase with the platform margin, excluding Net Treasury income (NTI) at 3.1 basis points in the first quarter of 2026.
- Commission revenue increased by 13.9% year-on-year to €103.2 million in the first quarter, supported by significant growth in AuA.
- Transaction revenue rose to €33.5 million, a 1.5% year-on-year increase, driven by sustained customer activity.
- Net Treasury income came to €21.0 million in the first quarter, down 3.9% year-on-year, primarily due to the impact of a lower interest rate environment.
- Value added services (VAS) revenues of €13.1 million in the first quarter, up 7.6% year-on-year.
- Platform revenue reached €157.8 million, an 8.4% year-on-year increase with the platform margin, excluding Net Treasury income (NTI) at 3.1 basis points in the first quarter of 2026.
CEO statement
Annabel Spring, Chief Executive Officer, said:
“Allfunds delivered a strong set of results in the first quarter despite a complex market environment, clearly demonstrating the underlying resilience of our platform. With stable AuA, strong net flows including sustained growth in alternatives, we have significant momentum following our decisive refocusing last year “
Non-financial highlights
Financial highlights
