ISA contributions up 34% as more people save.



Hargreaves Lansdown announced a 34% increase in ISA contributions to their Vantage fund platform over the last year, in a clear sign people are starting to save more for a rainy day.

The increase, which was based on the year up to April 5th 2011, was 34% up on the previous year.

ISA sales were up to £1.098billion compared with £812million for year before, with Hargreaves Lansdown’s overall assets increasing in value by 6% from £22.3billion to £23.6billion in just three months.

The portfolio managements services assets also increased 5% from £2.1billion to £2.2billion, in the three month spell from December 31st 2010 to March 31st 2011.

Chief Executive Ian Gorham explained that the third quarter of the accounting year had seen record takings of £1.16billion, beating the same period last year’s previous record of £1.01billion.

Gorham also explained that the firm hoped to offer the new Junior ISA accounts from November.

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