Hargreaves feels heat

HARGREAVES Lansdown has revealed a fall in new customers and cash inflows as it said savers have been impacted by the global stock market turmoil and Ukraine war.

The Bristol-based investment platform said net inflows dropped 46pc to £2.5bn in its third quarter, with assets under administration down 6pc at £132.3bn in the four months to the end of April.

Chief executive Chris Hill said: ‘The challenging backdrop driven by unprecedented events has impacted markets and investor confidence, in turn leading to moderated flows and asset levels.’

Shares dropped 3.6pc.