LONDON Oct 13 British fund supermarket
Hargreaves Lansdown said assets under administration
rose 9.5 percent in the three months to end-September, buoyed by
market gains, although the pace of new business had slowed as
investor sentiment waned.
The firm said total assets in the quarter rose 5.9 billion
pounds ($7.34 billion) to a record 67.6 billion pounds, up from
61.7 billion at the end of June.
The rise in assets, coupled with strong demand from clients
to trade shares in the wake of Britain's vote to leave the
European Union, helped it to post record net quarterly revenues,
up 15 percent to 90.6 million pounds.
However, the firm posted a cautious outlook.
"Despite the higher stock market levels, investor confidence
has fallen and there remains much uncertainty about the future
economic environment weighing on investors' minds," it said in a
"Future stock market levels and investor confidence will
have a significant part to play during the remainder of our
Total active client numbers rose by 20,000, although this
was 17 percent lower than in the first quarter of 2016.
($1 = 0.8042 pounds)
(Reporting by Simon Jessop; Editing by Rachel Armstrong)