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Hargreaves and Jupiter in £60m investment trust tie-up

Jupiter has pulled out of administering its retail investment trust and Isa business and has partnered with Hargreaves Lansdown for clients who wish to transfer.

As part of the deal, up to 5,000 retail clients worth £60m in assets under management could transfer to Hargreaves’ Vantage platform. No exit fees will apply as part of the deal.

Clients will be able to choose between defaulting to Vantage or moving to another platform provider.

Jupiter will withdraw its administration service at the end of November. The fund group says the service “is no longer able to meet our clients’ expectations.”

Jupiter Asset Management head of investment trusts Richard Pavry says: “In recent years we have become increasingly aware that our investors now expect to be able to access and manage their accounts online, in real time. After careful consideration we have concluded that our current administration service is no longer able to meet our clients’ expectations.

”We have therefore taken the decision to facilitate this transfer in order to give our clients access to the more sophisticated tools fund platforms are able to provide.”

Hargreaves Lansdown chief executive Ian Gorham says: “We have invested heavily in improving and expanding our investment trust coverage in recent years and launched our low cost regular savings scheme. We are pleased to support Jupiter’s decision and look forward to welcoming these new clients to the Hargreaves Lansdown Vantage service.”



Hargreaves acquires 7,000 clients and £370m assets from JP Morgan

Hargreaves Lansdown will acquire around 7,000 retail clients from JP Morgan as the fund manager retreats from third party investments. The firm will no longer offer non-JP Morgan investments, including FTSE equities, to direct clients. It will only be offering its own range of Oeics and investment trusts, invested directly or via an Isa. In […]


Hargreaves Lansdown unveils flat-fee retirement planning service

Hargreaves Lansdown has launched a new low-cost retirement planning service in response to the pension freedoms. The firm is offering a flat fee service for £395, which covers an hour with an adviser as well as a report on key issues for the investor to cover. It also includes a cashflow projection to show how […]


Jupiter’s Chatfeild-Roberts puts £1bn in Woodford fund

Jupiter Asset Management’s John Chatfeild-Roberts now holds almost £1bn in Neil Woodford’s equity income fund across the five Jupiter Merlin multi-manager funds, making him “the biggest outside holder” of the £6.18bn fund. The Jupiter Merlin Income fund has more than £500m allocated to the CF Woodford Equity Income fund, at 13 per cent, while the Jupiter […]

Jupiter poaches Columbia Threadneedle’s Ring as head of distribution

Jupiter has appointed Columbia Threadneedle Investments global head of product Nick Ring as global head of distribution. Ring will also become a member of the executive committee when he joins the firm in September. He will focus on delivering growth in assets under management as well as developing the existing clientele, products and marketing at the firm. Ring […]

Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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