Jupiter hands £60m investment trust business to Hargreaves Lansdown

Jupiter is handing its £60m investment trust savings and ISA businesses to Hargreaves Lansdown to administer, in a deal for an undisclosed sum.

Up to 5,000 retail clients representing £60m in assets under management will transfer from Jupiter to Hargreaves Lansdown. Jupiter is to withdraw from administering its retail investment trust savings and ISA schemes at the end of November. It has chosen Hargreaves Lansdown to provide investors with an option to transfer their holdings free of exit charges onto the HL Vantage Platform. The proposals apply to both ISA account holders and regular savers in the Jupiter investment trust schemes. Investors can choose an alternative regulated provider of their choice, though there w...