Nucleus, a UK fund platform for financial advisers, has paid its first dividend to shareholders.
David Ferguson, founder and CEO, described the payment as a “milestone” for the platform that he launched in 2006 and which has £12.8 billion (€13.9 billion) of assets under administration.
Nucleus’s £2.43 per share dividend to ordinary shareholders represents a 4.8% yield and was paid out of £15 million of cash reserves. The platform has been debt-free for the past five years.
Platforms have seen robust growth over recent months, driven mainly by pension transfers allowed under relaxed UK pension rules.
Nucleus said it saw a 15% increase in turnover during its full business year and a 21% increase in profits.
Half-year results for 2017 show the platform increased gross flows by 44.8% to £1.3 billion.
According to Nucleus, it is the second adviser wrap platform to have paid a dividend to shareholders.
©2017 funds europe