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Hargreaves reports small drop in Isa sales

Hargreaves Lansdown has reported a 4% drop in Isa contributions for the full tax-year ended April 5, 2009.

The firm today reported new Isa sales of £412m for the full tax year, which compares with £430m for the tax year ended April 5, 2008. While the group has not published figures for Isa sales since the turn of the year – the so-called Isa season – Fund Strategy understands they are up on the same time last year.

Meanwhile the adviser firm reported that against a backdrop of the FTSE All-Share falling 10% in the third quarter of its financial year (which covers the period January 1, 2009, to March 31, 2009), its asset value rose 3%. As at March 31, 2009, the firm had £10.2 billion of total assets under management.

Related Articles:
Isa season flat but bond funds dominate sales
Hargreaves investors deserting cash



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