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Hargreaves Lansdown says assets up 10 pct in 4-mths to end-April
May 18, 2017 / 6:17 AM / 6 months ago

Hargreaves Lansdown says assets up 10 pct in 4-mths to end-April

LONDON, May 18 (Reuters) - British fund supermarket Hargreaves Lansdown on Thursday posted a 10 percent rise in assets in the four months to the end of April, buoyed by new fund and product launches and improved investor sentiment.

Hargreaves, which helps retail investors invest in a range of products through its online platform, said total funds at the end of April were 77 billion pounds($99.74 billion).

Net new business inflows during the period were 3.3 billion pounds, to take year-to-date inflows to 5.6 billion pounds.

Hargreaves said the performance was driven by a recovery in investor confidence ahead of the end of the tax year, new fund launches, including one from fund manager Neil Woodford, as well as government changes to tax-free savings rules. ($1 = 0.7720 pounds) (Reporting by Simon Jessop; Editing by Rachel Armstrong)

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