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Hargreaves unveils Wealth 150+ super clean deals

by Alex Steger on Mar 01, 2014 at 09:58

Hargreaves unveils Wealth 150+ super clean deals

Hargreaves Lansdown has unveiled the 27 super clean funds on its 150+ list.

Hargreaves has secured heavy discounts on the funds with the average annual management charge (AMC) for the list coming in at 0.54%.

The 150+ includes funds from star managers such as Angus Tulloch, Adrian Frost, Tom Dobell, Richard Buxton, Harry Nimmo, Leigh Harrison, Stephen Harker and Giles Hargreave.

There are some high profile names missing from the list, such as Invesco Perpetual's UK equity income funds run by Neil Woodford, who is leaving the firm to set up his own boutique.

The Wealth 150+ does not include tracker funds, which are on a separate list of 12, managed by BlackRock and Legal & General, with ongoing charges of between 0.09% and 0.25%.

Hargreaves Lansdown 150+ sits alongside the broker's traditional Wealth 150 list, which has an average AMC of 0.66%.

Hargreaves head of research Mark Dampier (pictured) said all the managers on the Wealth 150+ list had outperformed their benchmarks over the course of their careers.

'Our investment team devotes over 30,000 hours a year to researching fund managers to identify the best in the market. The core investment principles which underpin our research process ensure that only the best funds make it onto the Wealth 150 and Wealth 150+.,’ he said.

The 27 funds on 150+ and the annual charges on the Hargreaves platform are:

First State Asia Pacific Leaders : 0.8%

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5 comments so far. Why not have your say?

James Clancy

Mar 01, 2014 at 10:34

So I assume all the above fund groups will be offering the same terms to other wraps.

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Nick Young

Mar 01, 2014 at 10:38

Er no James, I don't think you will see such terms at the likes of Transact or Nucleus. Standard Life maybe.. It's about scale and volume distribution

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Jonathan81

Mar 01, 2014 at 10:59

The deals are more a reflection of HL ability to influence the flow of funds, rather than scale, which I concede they also have at their disposal. Their business is predominately D2C, who rely on the wealth 150 to guide their decision making, so the fund groups on the 150 see a disproportionate amount of flows.

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N Udeshi

Mar 01, 2014 at 11:18

They are not the cheapest so they need to give back to customer. Best way is to negotiate with fund manager and get lower charges for their customers.

Interesting article on city wire re charges.

http://www.citywire.co.uk/money/how-fund-supermarket-charges-compare/a731645?ref=citywire-money-featured-guides-list

Read this article.

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RICHARD I

Mar 01, 2014 at 20:52

Good News for some HL fundholders !

This should help to offset the 20% increase in charges for those who "have entrusted our multi-manager team with over £4 billion of their savings".

It is very difficult to see how the increase in total AMC from 1% to 1.2%

(AMC 0.75% plus HL charge 0.45%) can be justified.

What are the odds on another U-turn from HL when this anomaly is more widely recognised ?

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