British investment manager Hargreaves Lansdown has disclosed net new inflows of £2.3bn in the four months to 30 April 2016, down 16% from £2.75bn during the same period a year ago.
The company’s assets under administration (AUA) rose 9% to £60.3bn from £55.3bn at the end of December 2015.
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The value of assets held within the Vantage service, the group’s direct-to-private investor platform increased by 3% from £55.9bn at 31 December 2015 to £57.4bn at 30 April 2016.
The number of active Vantage clients increased by 38,000 over the four months, from 775,000 as at 31 December 2015 to 813,000 as at 30 April 2016.
The group also said it expects to pay a levy of £5.5m to the Financial Services Compensation Scheme (FSCS), up from the £4.6m it paid in 2015.
Meanwhile, Year-to-date net revenues rose 12% to £268.9m, from £241m at the end of April 2015.
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By GlobalDataHargreaves Lansdown CEO Ian Gorham said: "Hargreaves Lansdown continues to maintain its market leading position as the most popular destination for UK retail investors, with strong new business and client growth for the period notwithstanding a challenging ISA season for the industry in the context of volatile market conditions, low investor confidence and 25% of investors quoting current uncertainty over EU membership as reducing their propensity to invest."
