Hargreaves Lansdown has added an "ultra-low-cost" UK tracker fund to its Vantage platform.
The SWIP FTSE All-Share Index will carry an annual management charge of 0.07%, and a total expense ratio of 0.11%.
Minimum single investment is set at £1,000 per holding, and a minimum monthly investment of £50 per holding
The announcement comes after IFAonline revealed Hargreaves were to charge up to £2 per month for some tracker funds on Vantage.
Head of advice Danny Cox [pictured] said Hargreaves has responded to the needs of investors looking for low cost tracking funds.
Cox said: "Our aim is to be the best place to buy any investment directly in the UK. In 2010 we saved our clients £180m in fund charges. We recently improved our share dealing tariff and service. Extending our coverage of tracker funds and offering a wider choice is therefore complementary and important."
Hargreaves also announced the addition of 12 Vanguard funds onto Vantage, with AMCs between 0.15 and 0.33%.
New funds added to Vantage:
FTSE U.K. Equity Index
FTSE U.K. Equity Income Index
FTSE Developed World ex-U.K. Equity Index
FTSE Developed Europe ex-U.K. Equity Index
U.S. Equity Index
Fixed Income funds
U.K. Inflation-Linked Gilt Index
U.K. Long Duration Gilt Index
Blended Index funds
LifeStrategyTM 20% Equity Fund
LifeStrategyTM 40% Equity Fund
LifeStrategyTM 60% Equity Fund
LifeStrategyTM 80% Equity Fund
LifeStrategyTM 100% Equity Fund
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