New Isa contributions on Hargreaves Lansdown’s Vantage fund platform jumped 34 per cent in the year to April 5, 2011, compared with the previous year.
The group’s interim management statement, announced this morning, shows 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 per cent 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 per cent from £2.1 billion at December 31, 2010, to £2.2 billion at March 31, 2011.
Hargreaves Lansdown chief executive Ian Gorham 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.