Hargreaves Lansdown hails 'best quarter ever'

16th Apr 2010 07:01

Fund manager Hargreaves Lansdown said it has had its best quarter ever with 'unprecedented' business volumes.Total assets under administration have grown by 12.8% from £15.6bn as at 31 December 2009 to £17.6bn as at 31 March 2010.Operating revenue for the third quarter was 20% higher than the corresponding quarter last year, while operating revenue for the nine months to 31 March 2010 came in 16% higher at £113.9m.The group said it has maintained a strong cash and balance sheet position, free from debt and with a high level of surplus regulatory capital. "This quarter's trading has been memorable in two ways; the unprecedented volume of business and the number of new clients," said chief executive Peter Hargreaves. "The election will be the next most significant external stimulus to our business. The result and the victor's response to the deficit will have material effects on our economy, sterling and the stock market."