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St James's Place changes managers and reduces fees for two funds

St James's Place changes managers and reduces fees for two funds
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Hargreaves trims charges on £7bn funds as Woodford casts shadow


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.  ....

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Hargreaves funds recoup a further £65m from Woodford payments in 2020


Hargreaves funds recoup a further £65m from Woodford payments in 2020
Multi-manager funds had already received over £300m from first payout last January
Hargreaves Lansdown’s multi-manager funds have recouped a further £65m-worth of assets trapped in the Woodford Equity Income fund in 2020. 
Investors in the six multi-manager funds that held Neil Woodford’s former fund received around £312m in the first round of payouts distributed by authorised corporate director Link Fund Solutions last January.
Since then, they have received around £22m in the second distribution in March, £27m in the third payout in August and close to £15m in the fourth round at the end of December, according to figures disclosed in the multi-manager annual accounts. ....

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