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Standard Life rivals Hargreaves with super clean deals on 290 funds
by Dylan Lobo on Mar 26, 2014 at 08:38
Graham Dow, Standard Life's head of investment group relationships, who was at the helm of the deals, added: 'For fund groups, they have a clear expectation that we should work to create operational efficiencies and not impose the further ancillary costs that many other platforms do.
'Working together, we have identified savings that we can all pass onto clients by way of reduced total fees.'
As part of the negotiations with the fund groups, Standard Life has waived any fees that it could recoup from fund groups including corporate actions or correcting pricing errors.
The deals have been long anticipated following Standard Life's announcement in September 2013 that it had secured preferential deals from 11 fund groups and said it was on track to secure deals from 15 fund groups by the end of February. The drop in number to 13 reflects Schroder's acquisition of Cazenove later in the year as both had initially been on Standard's list and Henderson's decision to drop out of the negotiations.
Earlier today Standard Life also confirmed it was set to buy Ignis Asset Management from Phoenix Group in a £390 million deal.
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on Jul 24, 2014 at 10:59