British investment manager Hargreaves Lansdown has recorded net business inflows of £1.43bn in the first quarter of fiscal year 2016, a jump 47% compared to £0.97bn a year ago.
For the three months period ended 30 September 2015, assets under administration and management fell by £0.5bn to £54.7bn compared to £47bn as of 30 September 2014.
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The company increased its active clients by 24,000 during the three months to 30 September 2015 to 760,000.
The group’s net revenue for the first quarter of fiscal 2016 was £78.5m, up 11% compared to £70.8m in the year ago first quarter driven by strong growth in year on year assets, and to a lesser extent increased equity dealing volumes.
Hargreaves Lansdown CEO Ian Gorham said: As ever, future stock market levels and investor confidence will have a significant part to play during the remainder of our financial year. However, we remain confident of growing the business further to the benefit of our clients and shareholders."
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