Hargreaves in talks over Woodford as assets pass £45bn

clock

Hargreaves Lansdown has said Neil Woodford's new fund management venture could provide a further boost to its business after it reported record net inflows of £1.83bn for the first quarter.

Reporting results for the first three months of 2014 - the final quarter prior to the platform's 6 April switch to a clean fee pricing model - Hargreaves said assets under administration rose £2.3bn to £45.7bn over the period. That was driven by record quarterly flows of £1.83bn, up from £1.8bn in the comparable period in 2013. Net operating revenue for the period rose 6% to £73.7m. Looking ahead, chief executive Ian Gorham (pictured) said the Budget pensions and ISA reforms may prompt "more enthusiasm" for retail investing, and said Neil Woodford's new business may boost interest fur...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Equities

Partner Insight: Are equities really overvalued?

Partner Insight: Are equities really overvalued?

Value dispersion means there are plenty of cheap opportunities

Gareth Jones
clock 09 February 2024 • 1 min read
Partner Insight: How much value is there in UK equities?

Partner Insight: How much value is there in UK equities?

‘As different as they are attractive’

The UK Equities Team at Invesco
clock 07 February 2024 • 1 min read
Partner Insight: The shift to value - still on course?

Partner Insight: The shift to value - still on course?

The tailwinds remain for value investing

Gareth Jones
clock 06 February 2024 • 1 min read