AJ Bell's Assets Surge as Tariff Volatility Boosts Trading
(Reuters) -UK's AJ Bell reported a 13% jump in second-quarter assets under administration for its platform business on Thursday, as market volatility from global tariffs and broader macroeconomic uncertainty bolstered trading activity.
Customers flocked to the company's trading platform as they sought to navigate the chaos that ensued following U.S. President Donald Trump's back-and-forth tariff policies on several industries and trade partners, particularly China.
AJ Bell said it added 32,000 customers in the quarter, with a total of 593,000 at the end of the period, while assets under administration stood at 90.4 billion pounds ($120 billion) for its trading platform.
"We have started the second half of our financial year in a strong position," Chief Executive Michael Summersgill said in a statement.
Its investment platform recorded a 29% increase in assets under management to 7.5 billion pounds.
AJ Bell shares were up about 1% in early trading.
($1 = 0.7533 pounds)
(Reporting by Simone Lobo and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)
