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(Sharecast News) - Online retirement savings provider PensionBee Group announced on Monday that assets under administration had hit approximately 8bn.
PensionBee said the milestone demonstrated "the continued successful execution" of its strategy, and was achieved through a combination of "consistently high" customer retention, "strong" net inflows from new and existing customers, and "supportive" market conditions.
Chief executie Romi Savova said: "Reaching 8bn (over $10bn) of assets under administration is a significant milestone, reflecting our robust growth and the strength of our compounding business model. This momentum is built on the trust our customers place in us - our proposition continues to resonate deeply with the mass market, and our capabilities across technology, customer service, and brand are delivering at scale.
"The retirement savings market is vast and underserved, requiring a truly customer-centric offering, which is exactly what PensionBee was built to deliver. We remain committed to making retirement confidence a reality for consumers across the UK and the US."
As of 1025 BST, PensionBee shares were down 1.72% at 142.50p.
Reporting by Iain Gilbert at Sharecast.com
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