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Funds News

Hargreaves Lansdown posts higher Q1 revenues, assets

LONDON, Oct 8 (Reuters) - British fund supermarket Hargreaves Lansdown took in 800 million pounds of net new business in the quarter to Sept. 30, despite what it described as weakening investor sentiment arising from COVID-19 and Brexit uncertainty.

It added 31,00 net new clients over the period, while assets under administration rose 3% to 106.9 billion pounds, thanks in part to a positive market movement of 2.1 billion pounds, the company said on Thursday.

Quarterly revenue rose 12% to 143.7 million pounds. (Reporting By Sinead Cruise, editing by Dhara Ranasinghe)

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