Hargreaves Lansdown assets climb

FTSE 100 fund manager Hargreaves Lansdown reported a £2.6bn rise in assets under administration to a record £26bn in the three months to the end of March.

The company said that trading volumes were up 12 per cent in the year so far, triggered by volatility on markets.

In the first quarter clients invested £1bn in the first quarter. Revenue over the first six months jumped by 16 per cent to £112.9m.

However chief executive Ian Gorham urged caution.

He said in a statement: "Markets have yo-yoed in line with the ever changing outlook for Europe.

"The indebted southern European economies remain a concern and we expect Europe to remain a prime driver of the state of investor confidence.

"Any short term growth in investor confidence or improvement in stock market outlook would be a surprise."