Hargreaves Lansdown reports 34% jump in Isa sales

19 April 2011 | By Adam Lewis

Gross Isa sales hit £1.089 billion in the full tax year, up from £812m in the last tax year.

Meanwhile the value of Hargreaves Lansdown’s total assets under administration rose 6% from £22.3 billion as at December 31, 2010, to £23.6 billion as at March 31, 2011.

The value of assets held in Hargreaves Lansdown’s Portfolio Management Service and range of multi‐manager funds, increased by 5% from £2.1 billion at December 31, 2010, to £2.2 billion at March 31, 2011.

Ian Gorham, the chief executive of Hargreaves Lansdown, notes in terms of net new assets, the third quarter of the firm’s accounting year was a record for the firm at £1.16 billion, up from £1.01 billion taken in the same period last year, which was the previous record.

Gorham also said that the group expects to offer the new junior Isa from November.

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