Hargreaves: Super clean share classes won't be clustered around 65bps

Hargreaves Lansdown said the move to super clean share classes will not automatically lead to a ‘new normal' annual fund charge of 65bps, claiming it has already negotiated greater discounts with some groups.

The D2C platform is yet to unveil its agreements, although it plans to do so before the end of the year. But following a week in which Investec Asset Management set out its own position by launching 65bps super clean share classes, Hargreaves said it was unlikely most groups would price around the same level. Hargreaves’ head of advice Danny Cox said the platform has negotiated discounts with around 30 of the 39 groups on its Wealth 150 list, with some offering bigger reductions on share classes than the 10bps Investec has opted for. “There is going to be a range of pricing, some of w...