UK investment platform AJ Bell (LSE: AJB) saw its shares climb over 5% on Thursday after revealing “record” assets under administration and rising customers in its latest quarterly update.
The company said assets on its platform jumped 15% year-on-year to £76.2 billion in the three months to December 31st, representing a 7% rise from the previous quarter.
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AJ Bell also added 2% more customers quarterly, taking its total to 484,000. In addition, the platform benefited from a significant rise in gross and net inflows over the year, with the latter up 63% to £1.3 billion.
AJ Bell’s CEO Michael Summersgill said the results reflect “increased confidence among retail investors”. The company’s share price has fallen 15% over the last 12 months.
