Fund-seeking youngsters pile in

FUND manager Hargreaves Lansdown attracted a record number of new customers last year as younger investors got on board.

The business reported an increase of 233,000 active clients over the 12 months to the end of June.

It now manages 30 per cent more money – £136billion – for around 1.6 million customers. Clients are younger. Around 83 per cent of new customers were under 55.

Chief executive Chris Hill said: “We are seeing younger clients show an interest in investing, prioritising financial resilience and saving.”

The new customers helped revenue rise by 15 per cent to £631million but profits fell 3 per cent to £366million.