Asset Management
Hargreaves Struggles To Attract New Money In Uncertain Trading Conditions

British investment platform Hargreaves Lansdown pulled in new money at a slower rate in the past three months as geopolitical strife and weak economic data caused stock market uncertainty.
British investment platform Hargreaves
Lansdown pulled in new money at a slower rate in the past
three months as geopolitical strife and weak economic data caused
stock market uncertainty.
The company - through which retail investors can access hundreds
of products such as stocks and bonds - attracted just under £1
billion ($1.6 billion) of net new money in the three months to
the end of September, compared with £1.3 billion in the previous
quarter.
"Potential stock market gains are a key incentive for retail
investors to act and have not been present this quarter, as
markets have reflected uncertainty regarding the Scottish
referendum, concern over Middle East and Ukrainian conflicts and
unfavourable euro zone economic data," said Ian Gorham, chief
executive.
The firm said total assets under administration increased by £100
million to nearly £47 billion for the quarter. Active clients
also rose - by 10,000 to 662,000 - and client retention remained
strong at 92.3 per cent.