Record inflows at Hargreaves Lansdown

19th Apr 2011 11:27

Record inflows helped wealth manager Hargreaves Lansdown outperform a flat UK stock market in the three months to 31 March. Assets under administration grew by £1.3bn during the three month period to £23.6bn and were up by 34% from the same period a year ago."This should be considered in the context of the FTSE All-Share index standing just 5% higher than a year ago," Hargreaves said.The company sounded a cautious note on future trading though."The full effect of public sector cuts, tax rises and a focus on debt reduction may affect the UK population's investing behaviour," it said. "Uncertainty persists around world events, particularly in key oil producing countries. With this economic outlook, investors may be more reluctant to invest excess cash."