StockMarketWire.com - Wealth manager Hargreaves Lansdown reported growth in quarterly net assets in the quarter ended 30 September, thanks to positive market movements.

For the three month period to 30 September 2020, assets under administration rose to £106.9 billion, up 3% since 30 June 2020, while revenue was up 12% to £143.7 million year-on-year.

The positive market movement of £2.1 billion, combined with net new business had boosted AUA, the company said.

Net new business was £0.8 billion during the period, down from £1.7 billion.

On average, the FTSE All Share was down versus the comparative period by 18% last year.

'Revenue, was in part, driven by strong stockbroking revenues from continued elevated share dealing volumes,' the company said. 'Although down on the peak levels seen earlier this year share dealing volumes across the quarter remained high and averaged 980,000 deals per month.'








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