View the article online at http://citywire.co.uk/wealth-manager/article/a737051
Hargreaves Lansdown reveals the 27 super clean funds on 150+
by Dylan Lobo on Mar 01, 2014 at 07:56
Hargreaves Lansdown has revealed the 27 heavily discounted funds on its 150+ list.
The combined average management charge of these super clean funds is 0.54% and includes products run by high profile managers such as Angus Tulloch, Adrian Frost, Tom Dobell, Richard Buxton, Harry Nimmo, Leigh Harrison, Stephen Harker and Giles Hargreave
However, there are some notable exclusions with Invesco Perpetual's UK equity income franchise run by Neil Woodford, who is leaving the firm to set up his own boutique, not on the list.
Henderson, one of the UK's biggest fund houses, has no representation, along with JO Hambro Capital, whose chief executive Gavin Rochussen told Wealth Manager last week his firm would refuse to bow to downward pressure on fund fees.
The new list also does not include any index tracking funds, which can be found in a separate super low cost core tracker list. This list contains 12 funds and covering global equities and bonds managed by either BlackRock or L&G, with on-going charges ranging from 0.09% to 0.25%.
Hargreaves Lansdown 150+ sits alongside the provider's traditional Wealth 150, where the average annual management charge has fallen to 0.66%.
Hargreaves points out that every single fund manager on the Wealth 150+ list has outperformed the appropriate benchmark over the course of their career.
Hargreaves head of research Mark Dampier (pictured) said: '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+.'
The firm's head of financial planning Danny Cox added: 'We have slashed the cost of investing by a quarter. On a typical portfolio (£30,000) an investor will be nearly £1,000 better off after 10 years.
'We have used this regulatory change to put the squeeze on fund manager pricing and lead competition in the market. We were one of the pioneers of discount broking back in the 1990s and Hargreaves Lansdown clients continue to benefit from our willingness to fight for the best possible deals from fund groups on their behalf.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop
More about this:
Look up the funds
- First State Asia Pacific Leaders A GBP Acc
- Marlborough UK Micro Cap Growth A Acc
- Artemis Income R Inc
- Artemis Strategic Assets R Acc
- GLG Japan CoreAlpha Retail Acc A GBP
- M&G Recovery A Inc
- Old Mutual UK Alpha R Acc
- Standard Life Inv UK Smaller Companies Ret Acc
- Threadneedle UK Equity Income Ret Net Inc GBX
- Threadneedle European Select Ret Net Acc GBX
- Newton Asian Income GBP Inc
- Newton Global Higher Income GBP Inc
- Newton Real Return GBP Inc
- Aberdeen Latin American Equity A Acc
- Marlborough Multi Cap Income Acc
- Newton Emerging Income Sterling Inc
- AXA Framlington Managed Balanced R Acc
- Rathbone Income Inc
- CF Lindsell Train UK Equity Acc
- Lindsell Train Global Equity A
- Invesco Perpetual Tactical Bond Acc
- Artemis Strategic Bond QR Acc
- Royal London Sterling Extra Yield Bond A
- Fidelity Moneybuilder Income
- Morgan Stanley Sterling Corporate Bond A Acc
Look up the fund managers
- Angus Tulloch
- Adrian Frost
- Tom Dobell
- Richard Buxton
- Harry Nimmo
- Leigh Harrison
- Stephen Harker
- Giles Hargreave