Hargreaves slumps 3% despite strong H2 results

FTSE dragged down 0.5%

Shares in Hargreaves Lansdown have fallen 3.1% in afternoon trading, weighing on the FTSE index, despite the group reporting a strong set of results earlier today.

In its results for the second half of 2015, the company said it saw strong new business inflows during the period as its multi-manager funds have continued to attract interest. Inflows increased by 23% to reach £2.8bn during the six months to the end of December, bringing total AUA to a record high of £58.8bn. Despite co-founder Peter Hargreaves leaving the company last year and a volatile summer fuelled by global sell-offs, Hargreaves had a strong year in 2015 with shares soaring in September and October, helped by its acquisition of £370m of assets from J. P. Morgan Asset Management...