British investment manager Hargreaves Lansdown has recorded net inflows of £1.11bn in the first quarter of fiscal year 2017, down 22% compared to £1.43bn a year ago.
For the quarter ended 30 September 2016, revenue increased 15% to £90.6m from £78.5m in the prior year. The rise in revenue was driven by higher asset values, and strong share dealing volumes following on from the EU referendum, the company said.
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Assets under administration (AUA) rose by £5.9bn to a record £67.6bn.
Total active client numbers were 20,000, down 17% from the previous year, while total client numbers stood at 856,000.
Client initiated share deals in the quarter were 1,031,000, a surge of 49% from 691,000 a year earlier.
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