Hargreaves Lansdown received over 600 individual deals on fund prices before it decided which funds would make it onto its new Wealth 150 + list, Investment Week can reveal.
The platform concluded its negotiations earlier this year, and subsequently revealed it had achieved an average AMC of 0.54% for the 27 funds which made the Wealth 150 + list.
Hargreaves said at the time groups had "put their best foot forward" in terms of price, and Investment Week can reveal the fund supermarket was offered over 600 funds for inclusion on the core list during its negotiations.
The amount of deals being offered suggest that, while some fund groups talked tough, many were happy to sacrifice margin for an increased level of flows from the country's largest D2C platform.
The lowest priced active fund to make the list was the Morgan Stanley Sterling Corporate Bond fund, priced at 0.15%, though the group said it had rejected some funds priced at 0.25%.
A spokesperson at Hargreaves said: "We initially contacted over 200 fund groups and subsequently entered into negotiations with around 80 groups covering some hundreds of funds.
"Because no one had previously tried to negotiate down fund managers' margins on behalf of investors, it inevitably took some time, with some groups more willing than others to cut deals for investors."
Hargreaves - headed by chief executive Ian Gorham (pictured) - has said the Wealth 150 + will grow over time, as negotiations with groups are ongoing.
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