Hargreaves breaks bad news to failed bidders as it finalises Wealth list

Hargreaves Lansdown has begun the process of telling groups if their tenders for inclusion in its ‘core' Wealth list have been successful, and is understood to have secured prices of around 50bps for equity funds and less for fixed income funds.

According to sources, the D2C platform giant is close to finalising its new core list of funds within its Wealth 150. As part of the process it has replied to a number of fund groups who have submitted tenders for inclusion, rejecting some and telling the failed bidders they have been undercut by rivals. Rather than hold the line on pricing, a number of fund groups have broken ranks and decided to offer heavily discounted share classes to the country's most famous platform in order to get on its streamlined wealth list. Investment Week understands some groups have gone to lows of a...