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Hargreaves Lansdown assets hit record amid lift from market gains, inflows

Wednesday, 15th May 2019
Hargreaves Lansdown reported a rise in assets to record levels in the first four months of the year, bolstered by new inflows and investment gains.

Total assets under administration at the end of April rose 13.9% to £97.8bn, from £85.9bn seen at the end-December, the company said.

Market gains added £9bn pounds thanks to the rebound in equity market since the turn of the year, while new business added £2.9bn to overall assets under administration, with net new clients of 53,000 added in the period.

Year-to-date total net revenue rose 8% to £395.9m.

'We are pleased with the strong tax year end, delivering net new business of £2.9 billion and welcoming another 53,000 net new clients despite the market backdrop. It is also pleasing to see the benefit of our investment coming through with  Active Savings continuing to gather momentum and the announced transfers of clients and assets from Witan Investment Services, JP Morgan and Baillie Gifford,' said Chris Hill, Chief Executive Officer.

'Whilst political and macro-economic uncertainty remains, we are confident that our continued focus on the needs of UK investors and savers means that we are well positioned to deliver attractive growth.'

At 9:02am: (LON:HL.) Hargreaves Lansdown PLC share price was -20p at 2287p

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