Reports
Modest Asset Decrease at Hargreaves Lansdown
Total assets under administration at London-listed financial planning and advisory group Hargreaves Lansdown fell 2 per cent in the last quarter to £10.7 billion, although remaining ahead of the 30 June 2007 total of £10.6 billion. Total revenue in the quarter was £29.8 million compared with £26.4 million in last year’s comparative, a rise of 13 per cent, £2.5 million of which was in discretionary asset management, a rise of 32 per cent. Assets held within the Vantage service, the group’s direct-to-private investor fund supermarket and wrap platform, dropped by just 2 per cent from £9.8 billion at 31 December 2007 to £9.6 billion at 31 March 2008 despite the market decline of 11 per cent, according to a statement.