Woodford launch boosts Hargreaves Lansdown Q1 performance; Chairman Mike Evans to step down

Net inflows of £3.3bn

Hargreaves Lansdown has reported a 10% rise in assets under administration (AUA) and net new business of £3.3bn in the four months to 30 April, largely helped by a recovery in investor confidence and the launches of the Woodford Income Focus fund and the HL Select UK Income Shares fund.

In its latest trading statement released today, the group reported net new business of £3.3bn during the four-month period under review, and year to date this rose to £5.6bn. AUA increased by 10% from £70bn to £77bn in the four months to 30 April, while total net revenue was £131m. The group said this was a result of net new business, higher market levels and strong share dealing volumes. This makes year to date net revenue £316m, 17% higher than the same time in 2016.  Hargreaves Lansdown attributes the successful performance to "a recovery in investor confidence ahead of the tax ...