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Hargreaves reveals Wealth 150+ fund deals

Hargreaves Lansdown has revealed the 27 funds on its Wealth 150+ range where it has secured preferential pricing terms. 

The direct platform has secured prices ranging from 0.15 per cent to 0.8 per cent.

The biggest discount secured by Hargreaves is on the Royal London Sterling Extra Yield Bond fund, from a standard annual management charge of 0.75 per cent to 0.32 per cent.

According to Hargreaves, 25 of the 27 fund groups have offered preferential pricing that is not available on any other platform. It says the average cost of funds in the list is 0.54 per cent compared with an industry average of 0.71 per cent. 

The list includes funds from Aberdeen, Artemis, M&G, Newton and Threadneedle.  

Across the entire Wealth 150 list, fund costs are 0.66 per cent on average. On certain funds, its pricing shows discounts on the total expense ratio as well as on the AMC.

From April, all new investments will go into clean share classes.

Hargreaves Lansdown head of financial planning Danny Cox says: “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.”

Hargreaves says it expects the list to change over time. 

Thameside Financial Planning director Tom Kean says: “While reductions on pricing are welcome, there are questions about whether this list is price-led or investment-led.”

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