Standard Life matches Hargreaves with discounted fund range

Standard Life has confirmed it will offer 290 discounted ‘superclean' funds on its platform, at an average AMC of 53bps, following months of negotiations.

The deals from 13 fund groups represent £9.1bn or 46% of the assets on the firm's wrap platform. The average fund on the list will carry a TER of 80bps, a saving of 14bps on the standard price, with the AMC figure nearly identical to Hargreaves Lansdown's average of 54bps on its Wealth 150+ list. Nine of the groups - Blackrock, Invesco Perpetual, Investec, Neptune, Old Mutual Global Investors, Liontrust, Schroders, Standard Life Investments and Threadneedle - will provide a new discounted share class. In four more cases - Aberdeen, BNY Mellon, M&G and Vanguard - Standard Life will ...