Hargreaves assets up 13% in Q1 as yearly ISA sales double

Hargreaves Lansdown recorded a 12.8% rise in assets under administration over Q1, as its Vantage platform posted £1bn of net new business.

Assets on Vantage increased by 13.2% to £16.3bn over the three months to 31 March, taking the group's total AUA to £17.6bn. Vantage saw £1bn of net new business inflows and was also benefited by a £900m rise due to positive market movements and other growth factors. The value of assets held in the Hargreaves' Portfolio Management Service and range of multi-manager funds increased by 11.8% over the quarter. Hargreaves also posted strong new ISA contributions for the full tax year ended 5 April, taking in £812m compared to £412m the previous year. Investments into SIPPs - including t...