Hargreaves to challenge fund groups and DFMs with asset management push

Hargreaves Lansdown is planning a push into the asset management arena which could see it hire external fund teams and market its services to advisory businesses in future.

Having just passed £5bn in assets within its discretionary and managed division, the FTSE 100-listed firm is expanding its multi-manager funds and considering adding passive products, solutions, and other offerings in a bid to boost its asset management presence. The platform has begun a three-week offer period for its Multi-Manager European fund, following on from the £162m it raised for the Multi-Manager UK Growth fund last month, and will also launch an emerging markets multi-manager fund in the coming months. "We want to take advantage of the demand for Hargreaves Lansdown as a fu...