Hargreaves trims charges on £7bn funds as Woodford casts shadow
Charges on Hargreaves Lansdown s funds will fall as assets grow
26 January 2021 • 7:00am
Hargreaves Lansdown has pledged to reduce fees on its multi-manager funds as the portfolios grow and admitted seven of the 10 needed to improve performance or did not represent value for money.
The fund shop, whose £7bn multi-manager funds were hit by the collapse of Neil Woodford s flagship fund, is reducing their 0.75pc annual management charge once the portfolios grow beyond £1bn in size.
Charges on the funds will fall by 0.05 percentage points for each additional £1bn of assets, to a low of 0.6pc on assets above £3bn.