Woodford launch boosts Hargreaves Lansdown Q1 performance

Chairman Chris Hill to step down

Jayna Rana
clock • 2 min read

Hargreaves Lansdown has reported a 10% rise in assets under administration (AUA) and net new business of £3.3bn in the four months to 30 April, largely helped by a recovery in investor confidence and the launches of the Woodford Income Focus fund and the HL Select UK Income Shares fund.

In its latest trading statement released today, the group reported net new business of £3.3bn during the four-month period under review, and year to date this rose to £5.6bn. AUA increased by 10% from £70bn to £77bn in the four months to 30 April, while total net revenue was £131m. The group said this was a result of net new business, higher market levels and strong share dealing volumes. This makes year to date net revenue £316m, 17% higher than the same time in 2016.  Hargreaves Lansdown attributes the successful performance to "a recovery in investor confidence ahead of the tax ...

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 Companies

Manchester firm declared failed by FSCS over pensions advice

Manchester firm declared failed by FSCS over pensions advice

Pension Advice Specialists, trading as Ashworth Wealth, no longer exists

Isabel Baxter
clock 26 March 2024 • 1 min read
Third Financial's 'laser-like' focus following Nucleus acquisition

Third Financial's 'laser-like' focus following Nucleus acquisition

‘Adviser platforms are more nuanced than just outsourced versus in-house’

Isabel Baxter
clock 26 March 2024 • 3 min read
Fairstone makes first advice firm buy of 2024 adding £110m in assets

Fairstone makes first advice firm buy of 2024 adding £110m in assets

Consolidator acquires Nottingham-based James Ryan Thornhill

Isabel Baxter
clock 26 March 2024 • 1 min read