Hargreaves Lansdown has confirmed a number of its new discounted fund deals will be subject to HMRC's rebate tax, with only 9 of the 27 funds on its Wealth 150 Plus list available via preferentially priced share classes.
The group unveiled its 27-strong core list of 'Wealth 150+' funds over the weekend, with funds from groups including M&G, Artemis and Newton all making the list. The deals the D2C giant secured mean funds on the list have an average AMC of 0.54%. Hargreaves has been pushing fund groups to launch new super clean discounted share classes for its core list, but Saturday's announcement showed only 9 of its 27 Wealth 150 Plus deals are done via such share classes. The remaining 18 are done via existing share classes, with unit rebates used to give Hargreaves specific terms. This mean...
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