Multi-Manager

Hargreaves Lansdown unveiled plans for a new non-advised service in its latest trading update, but its shares fell as it revealed rising costs including an FSCS levy of £4.6m

Harwood Capital Management has agreed to buy rival wealth manager Wellian Investment Solutions in an effort to expand its multi-manager business.

Hargreaves Lansdown is extending is multi-manager range with the launch of an Asia and emerging markets vehicle at the end of this month.

J.P. Morgan Asset Management (JPMAM) has cut fees on its Fusion fund range, run by Tony Lanning, in a bid to improve the portfolios' competitiveness.

Threadneedle is to merge its multi-manager range into funds run by Seven Investment Management (7IM), with two managers set to move across as part of the deal, Investment Week can reveal.

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.

Assets in Hargreaves Lansdown's multi-manager range have moved closer to the £5bn mark after the company raised £162m for its HL Multi-Manager UK Growth fund, which launched on 23 January.

Cazenove MM range 'was key area to capture'

Marcus Brookes, head of multi-manager at Schroders, has become more bullish on US stocks, as he expects falling oil prices to boost the jobs market still further.

Schroders' multi-manager Marcus Brookes has underperformed this year across his Multi-Manager Diversity strategies, but says his investment thesis will be proved correct in time.