Income fund of funds planned by Hargreaves

Hargreaves Lansdown is to launch its third fund of funds, an income portfolio aiming for a yield 10%...

Hargreaves Lansdown is to launch its third fund of funds, an income portfolio aiming for a yield 10% above that of the FTSE All-Share. The fund, to be launched in the autumn with around 10 holdings, will invest in some of the blue chip UK Income funds, such as Credit Suisse Income, but also hold positions in some boutique offerings. The building of its fund of fund range comes as the group hangs out a 'for sale' sign on its other unit trust offerings. Over the past few years Hargreaves has been rolling investors in its discretionary portfolios into unit trust offerings as they offered...