View the article online at http://citywire.co.uk/wealth-manager/article/a753122
Hargreaves Lansdown bags Woodford discount
by David Campbell on May 27, 2014 at 09:19
The fund will be available at annual management and ongoing charges of 0.60% versus 0.75% elsewhere. The fund will also be added to the company’s Wealth 150+ buylist from launch.
‘I have no hesitation in adding the fund to our Wealth 150+ list of favoured funds,’ said Hargreaves head of research Mark Dampier.
‘The upshot of this is investors have access to a top flight fund manager at a bargain price. Neil Woodford has one of the best track records when it comes to adding value for investors.’
Cofunds had previously announced that the fund will be available on its platform from launch on 2 June but was not able to offer a concessionary rate.
Woodford Investment Management has previously announced a 0.65% Z share class for guaranteed distribution of a minimum £500 million, while C class shares charging 0.75% will be available from £50 million.
‘We are able to keep our fees low, through the use of modern technology and encouraging investors to use fund platforms, execution-only brokers and financial advice channels, rather than buying directly from us,’ said Craig Newman, chief executive of Woodford Investment Management.
‘Many investors are still needlessly paying higher fees as a result of buying directly from fund management companies in the past.’
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