Hargreaves Lansdown has announced revenues rose 43% for the three months from June 30 to September 30, in Q1 of the group's first financial year since it floated on the London Stock Exchange in May.
Despite less than favourable market conditions, the group managed to grow its assets under administration (AUA) from £10.2bn to £10.6bn over the period. This included an AUA increase within the Vantage service, the group’s direct-to-private investor fund supermarket and wrap platform, from £9.1bn to £9.5bn. The strong figures can be attributed to strong net business inflows which have more than compensated for the negative impact of the market during the period, according to Hargreaves. There were particularly strong showings for ISA and SIPP inflows into Vantage wrappers up 70% an...
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