StockMarketWire.com - Hargreaves Lansdown said Thursday assets under management grew in the fiscal first quarter of the year even as the market uncertainty and weak investor sentiment hurt net retail flows.

For the three months to September 30, assets under management grew 3% to £94.1bn, up from from £91.6bn at the June end supported by inflows £1.3bn.

Net revenue for the period grew 16% to £120.8m from £104.1m a year earlier. 'I'm pleased to report a solid start to our financial year for growth in clients, net new business and revenue. The past quarter has seen an uncertain market environment and weak investor sentiment resulting in an industry-wide slowdown in net retail flows,' said Chris Hill, Chief Executive Officer. 'Despite this backdrop, we believe the strength of our business model positions us well for when sentiment improves'.

At 9:08am: [LON:HL.] Hargreaves Lansdown PLC share price was -129.5p at 1818.5p



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