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Hargreaves pulls in £2.9bn as assets recover after 'horrible' period

Hargreaves Lansdown has seen a net inflow of £2.9bn in the first four months with assets under management rebounding after a 'horrid' second half of 2018.

Hargreaves pulls in £2.9bn as assets recover after 'horrible' period

Improved market conditions this year have boosted business at Hargreaves Lansdown

The firm attracted £2.9 billion in net new business in the four months to 30 April. It pulled in 53,000 clients over the period, lifting the total number of active clients to 1,188,000. 

Revenue for the four months was four months higher at £395.9 million. 

Assets under administration stood on £97.8 billion at 30 April 2019, a recovery from the £85.9 billion they fell to at the end of last year, which chief executive Chris Hill attributed to the 'horrible' market conditions. 

Rising stock markets contributed to £9 billion of the recovery in assets. 

Commenting on his firm's performance this year, Hill said: '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 8.10am shares in Hargreaves were up 0.3% at £22.99. 


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6 Comments FCA: we'll visit every DB transfer adviser if we need to

FCA: we'll visit every DB transfer adviser if we need to

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