Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Killik gets Woodford for 75bps, as Standard Life secures 65bps deal

Killik gets Woodford for 75bps, as Standard Life secures 65bps deal

Killik will offer Neil Woodford’s new fund on the C share rate, while Standard Life has won access to the cheaper Z shares.

Killik clients will therefore pay 0.75% for the Woodford Equity Income fund, and Standard Life clients 0.65%.

The C shares typically require a minimum investment of £50 million, and Z shares £500 million, but Killik’s head of research Mick Gilligan stated that there would be no minimum threshold via Killik accounts.

Standard Life’s rival platform Cofunds is also offering Woodford’s fund at the 0.75% rate, having missed out on the Z share class because it could not ‘guarantee distribution’.

Hargreaves Lansdown has secured the Z share class, as well as an extra discount involving Woodford Investment Management paying Hargreaves clients an annual loyalty bonus of five basis points to bring the overall annual management charge down to 0.6%.

Gilligan has furthermore backed Woodford’s (pictured) new venture, particularly for the long term.

‘One potential advantage the new fund may have over the previous fund is the scope to cherry-pick new investments and a lack of any legacy issues, although it may be some time before the magnitude of this potential advantage becomes apparent,’ he argued.

‘We expect this manager to continue producing market-beating returns over the medium to long term.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Read More
Wealth Manager on Twitter