Hargreaves Lansdown has revealed it was offered share classes for its new 'Wealth 150+' fund range with annual management charges as low as 0.25% for active equity funds.
The D2C platform giant, which today unveiled its long-awaited platform pricing structure for the post-RDR world, will reveal the full list of its new Wealth 150+ fund range in March, but revealed some details of the offers it received today.
Mark Dampier (pictured), head of fund research at Hargreaves, said following its tender to fund groups to "put their best foot forward" in terms of super-clean pricing, the platform received some "incredible" prices, but rejected a number because of performance issues.
"We got offered some incredible prices but the funds weren not good enough," he said.
Hargreaves revealed the lowest priced equity fund AMC they were offered was 0.25%. This offer was rejected, with 0.3% being the lowest price for an active equity fund to have made it onto the new list.
That list also includes a corporate bond fund with an AMC of 0.15%, while in the passive space the best deal sees the platform sell a tracker for 0.06%.
Earlier today the group announced it had created a core Wealth 150+ list of 27 funds, but Dampier said none of the deals were done on an exclusive basis.
"We have made no 'exclusive' requirement, and indeed not all our 27 fund deals are exclusive," he said.
He added the funds are "the cream of the crop" from the investment industry, though investors will not be able to judge for themselves until 1 March.
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