Hansard's AuM falls

Hansard, a specialist long-term savings provider, reported a fall in assets under administration from the first half of the year to the second.

Assets under administration dropped from £1,230m at June 30th 2011 to £1,051m at 31 December 2011, but the firm saw a rise in new business sales of regular premiums from £47.9m to £67.6m.

New business sales of single premiums fell from £66.6m to £22.1m, while the new business margin after tax rose from 7.4% to 10.4%.

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The firm admitted that it continues to face "economic uncertainty and we remain determined to grow in volume and profitability."

"Even though we face economic uncertainty, we aim to continue to deliver excellent service to Independent Financial Advisors and their clients, maintain profitable growth and generate value for our shareholders," Chairman Leonard Polonsky added.

The interim dividend per share was increased from 5.75p to 5.90p.

The share price rose 0.33% to 150.00p by 14:52.

NR