Hargreaves Lansdown assets grow to £133bn in strong start to the year
Hargreaves Lansdown today reported a sharp rise in assets under administration (AUA) but said it had seen a fall in share-dealing volumes as Covid restrictions eased.
The British investment platform saw AUA reach £132.9bn by during the first four months of the year, compared with £120bn reported at the end of 2020.
Hargreaves enjoyed a strong period of growth by 30 April, with net new business hitting £4.6bn.
Throughout the whole year, net new business has reached £7.9bn and total revenue is up by 19 per cent to £532.7m.
Net new active clients have also soared by 126,000 to 1.62m during the four months up to 30 April.
Following the announcement, shares in Hargreaves Lansdown dropped 5.5 per cent during afternoon trading.
Chris Hill, CEO of Hargreaves Lansdown, said the growth reflected the benefits of investments undertaken in recent years.
“We continue to invest for growth, both as part of broadening our proposition and ensuring we continue to respond to our clients’ needs.
“We remain confident in our strategy of focusing on the needs of UK investors and savers and delivering the highest level of client service, which should position us to deliver attractive sustainable long-term growth as the UK’s leading digital wealth manager.”