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SharePrice.com - UK Share Information - Friday, 18th August 2017

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Hargreaves Profits Increase


Thursday, 17th August 2017

Chief executive Chris Hill, who joined the company six months ago, replacing Ian Gorham, said that the company was looking to pick up the books of investment trusts from asset managers after having signed a deal with Legg Mason last year, and another with BlackRock in July.

The key thing, he explained, was that the company wanted to position itself in a way that would allow them to take advantage of the opportunities as they surfaced. He said that the company was on the lookout for other opportunities that would work both for the asset managers and for the client.

The company is looking to make more deals similar to the one with BlackRock, which it hopes will see thousands of retail clients with more than £90 million in assets join Hargreaves in October. The deal is aimed at helping asset managers to shed clients which are not a core part of their day to day business.

Hillís pledge came after the FTSE 100 company confirmed it had seen pre-tax profits rise by 21 percent compared to the same time period last year, with profits for the year up to June 30th being £266 million, in spite of Brexit hitting investor confidence, and being a drag on profits. The company hopes that it will benefit from the increasingly complex savings and pensions market.


Read previous editors articles here


Stock Market Update

Thursday, 17th August 2017

Financial stocks continued to weigh on the FTSE 100, down 0.6% at 7,387.  Standard Chartered (STAN) declined 2.7% to 755p and Royal Bank of Scotland (RBS) fell 2.2% to 258.1p.  Legal & ...
Thursday, 17th August 2017

The FTSE 100 fell as weaker banking stocks overshadowed gains in the housebuilding sector.  One of the biggest banks in the blue-chip index, HSBC (HSBA), retreated 1% to 740.8p.  Royal Bank of ...
Thursday, 17th August 2017

The FTSE 100 is expected to open around 15 points lower, erasing some of yesterday's half-decent gains, as traders look to Asia for an initial reaction to last night's Fed ...

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