AJB has broken the £100bn mark in Platform assets. Net inflows were solid in Q4 with market performance driving ahead. With 22k new customers in Q4, 100k customers were added during the year overall. This is an impressive performance given the backdrop. The AuA outturn was slightly ahead of our recent mark-to-market which drives a small 4% annualised increase in our EPS estimates. We reiterate our BUY and 610p 12m TP (30x PER).
