Hargreaves Cuts Fund Charges

Stockbroker Hargreaves Lansdown has lowered charges on thousands of funds for investor who use its Vantage service, saving clients £8 million

Emma Wall 15 January, 2014 | 1:58PM

Britain's largest direct investor fund platform Hargreaves Lansdown has significantly cut fund charges. Eighty per cent of Hargreave's 500,000 clients will pay less to use the fund supermarket from March 1.

Hargreaves has cut both its own charges - and negotiated with asset managers to cut their annual management charge (AMC) on certain funds too. Hundreds of thousands of investors will now pay less to invest in the best performing funds on the market, with total savings expected to equal £8 million.

Hargreaves chief executive Ian Gorham said that the company was able to cut costs because of the scale of their operation.

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Emma Wall  is former Senior International Editor for Morningstar

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