Investors withdrew more than £500m from the six Hargreaves Lansdown (HL) multi-manager funds that are trapped in the LF Equity Income fund in the final seven months of 2019, as the funds all underperformed their sector averages, data shows.
Morningstar estimates redemptions from HL's ten-strong multi-manager range between June and December totalled £594m, with £508m of those outflows coming out of the six with exposure to Neil Woodford's former fund. The two largest of those mandates - the £2.8bn HL Multi-Manager Income & Growth fund and the £1.8bn HL Multi-Manager Special Situations fund - have bled the most, with outflows of £277m and £110m respectively. Unsold Woodford assets spark questions from investors' lawyers - reports These two funds hold positions in LF Equity Income of 10.9% and 4.1% respectively. The o...
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