IFG Group, a provider of self-invested personal pensions and financial advice in the UK and Ireland, has said in an interim management statement that it is continuing to make progress and maintains a “solid financial position”.

Although the group’s businesses are not directly exposed to investment market movements, an uplift in investor sentiment has led to more positive conditions for the wider UK wealth management market, the firm said.

IFG Group’s priorities lie in cash generation and tight cost control. Net cash at the half year stage is expected to be around £20 million ($30 million) following the expected trend of a slight reduction in the first half with cash building in the second half.

Regarding pensions, the group logged an increase of 37,848 SIPPs under administration at the end of March 2013, compared to 37,342 at the end of December 2012, since acquiring the James Hay business.

The partnership currently administers over 40,000 self-directed pension schemes in SIPPs, small self-administered schemes and wraps with approximately £14.5 billion ($22 billion) in assets under administration.

In Ireland-based IFG Corporate Pensions, the business shows continued growth with funds under management reaching €810 million ($1.04 billion) in March 2013, compared to €725 million in December 2012.