View more on these topics

Blue Sky offers HL challenge on structured plan

Blue Sky Asset Management has challenged Hargreaves Lansdown to pitch the performance of one of its wealth management solutions against an equivalent BSAM structured plan in a £5,000 charity bet.

Blue Sky is putting forward one of its global equity structured investment plans, crea-ted in March, and is inviting Hargreaves Lansdown to compare the past, present and future investment strategy, investor benefits, advantages and value against any HL global equity portfolio arranged for a client around the same time.

The charity challenge follows comments made by Hargreaves Lansdown chief executive Peter Hargreaves, who suggested that structured product providers are only ever interested in making a profit.

Blue Sky chief executive Christopher Taylor says: “Hargreaves does not think there is any such thing as a value- adding structured investment provider or structured investment solution and that presumably means that they think anything/everything they do for clients is fundamentally superior. Prove it, gentlemen.”

Hargreaves Lansdown chief executive Peter Hargreaves says: “Blue Sky has suggested a very opportune time to buy structured products and a very inopportune time to buy the market.

“The problem with a structured product is you are locked in to a timeframe which has nothing to do with the way the market moves. The market could be down, it could be good, you do not know but you have to take the deal when it ends. If you are in a direct investment and in four years time the market is down, you can keep your investment, you do not have to encash.”

Recommended

Concerns rise over due diligence

An increasing number of advisers are worried that their due diligence around structured products is lacking and that they have been over-reliant on provider reputation when recommending products, says Resources Compliance.

Osborne accused of talking down pound

Conservative Shadow Chancellor George Osborne has come under fire for talking down the pound after saying that Britain is heading for a “collapse of Sterling”.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment