Standard Life secures discounted Woodford share class

Standard Life has become the second platform to secure cheaper access to Neil Woodford's new fund, after the group negotiated access to the 0.65% AMC share class.

Woodford Investment Management has agreed to give the platform access to the Z share class, which Hargreaves Lansdown started selling earlier this week. Most rival platforms are selling the CF Woodford Equity Income fund for 75bps, though the total cost of ownership (including platform fees) will differ on a case-by-case basis. Hargreaves also opted to offer an additional 5bps discount, meaning Woodford's fund can be bought by direct investors for 60bps. However, Standard Life's share class will not include the additional 5bps discount Hargreaves has opted to offer as the platform ...