Hargreaves Lansdown has unveiled a new service to replace the existing Wealth 150 and Wealth 150+ that will focus on a more concentrated list of funds.
The Wealth 50 - which launches today (9 January) - has been rolled out in response to "extensive DIY investor research" and will include 60 funds at launch, 50 active and 10 passive, down from 85 previously. Funds will be selected following quantitative and qualitative analysis by the HL fund research team and will include both active and passive funds. In tandem with the launch, HL said it has negotiated lower fund charges for its clients. Wealth 50 clients will get an average annual saving of 30% on ongoing charges, with the cheapest active fund carrying an annual fund charge of 0.2...
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