Results round-up: Hargreaves Lansdown sees assets fall 6% in H2 2018

As market uncertainties weigh

clock • 9 min read

The last quarter of 2018 proved tough for UK wealth managers, with concerns over a global slowdown, Brexit and markets hitting inflows. Here, PA's sister title Investment Week collates the quarterly trading updates from the sector

Hargreaves Lansdown Hargreaves Lansdown saw its total assets under administration (AUA) fall 6% to £85.9bn in the six months to 31 December 2018 as weak investor confidence and market volatility weighed. Despite this however, the firm witnessed net new business of £2.53bn in the half, although this was down from £7.6bn on 30 June 2018, with 45,000 new active clients coming onto the books. Profits before tax were also down £139m compared to the previous half to £153.4m while net revenue dropped to £236.4m from £447.5m in 30 June last year. Chris Hill, CEO of Hargreaves Lansdown, c...

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