Hargreaves Lansdown posts record assets, warns on outlook
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 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.... read more
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