Hargreaves Lansdown unveils new Wealth 150+ list

dunstonh

jrawle wrote: »

Surely they are presented in the same way in the tables on the HL website?

No. HL are prone to showing them with AMC only on some pages.

e.g.

http://www.hl.co.uk/funds/fund-news-and-investment-ideas/popular-funds

That shows the AMC. Not the OCF.

On their individual fund pages they show the AMC but show the additional expenses further down rather than showing a total charge.

SnowMan

The lang cat have an interesting piece in their blog today that suggests that the additional expenses (OCF less AMC) on the super clean classes are less than the additional expenses on the clean classes.

http://langcatfinancial.co.uk/2014/03/whats-super-clean-superclean/

dunstonh

SnowMan wrote: »

The lang cat have an interesting piece in their blog today that suggests that the additional expenses (OCF less AMC) on the super clean classes are less than the additional expenses on the clean classes.

http://langcatfinancial.co.uk/2014/03/whats-super-clean-superclean/

Interesting read. However, part of the problem could be down to different dates being used for snapshots. You would expect the superclean OCF to be the same as the clean OCF apart from the level of discount. Clean funds have been around a while and data suppliers may only update their records quarterly or even half yearly. Whereas superclean are new classes and will have a more recent data snapshot.

koru

More interesting news:
http://www.investmentweek.co.uk/investment-week/news/2331897/invesco-launches-exclusive-share-class-for-big-five-platforms

Invesco will have a superclean class of their funds at a 0.05% discount, available to the five big platforms - Hargreaves Lansdown, Fidelity FundsNetwork, Standard Life, Skandia and Cofunds. This perhaps indicates that HL will not get exclusivity for special deals.

I wonder if this Invesco class will be available to platforms who use Cofunds, such as II and Charles Stanley?

zagfles

grizzly1911 wrote: »

Buying through Cavendish (fidelity), no initial fee, the price I have purchased at has been somewhere in the middle of the spread. They do reflect the fact no initial fee is taken.

But do they quote an initial charge discount? With the fund I mentioned, Fidelity say there is no initial charge, no initial charge discount, but that there is a buy/sell spread. So it would appear from that you'd pay the full buy price?

For instance, Artemis quote the initial charge of their dirty funds as 5.25% (with a spread of close to 6%). Any decent execution only broker will (and would have in the past) refund the 5.25% quoted initial charge.

But their clean funds I checked say no initial charge but with a spread of 1.4% or more. The point is HL quote the same prices but say there's a 1% discount on the initial charge, Fidelity don't say there's an initial charge, or an initial charge discount.

There again, with HL there's a discount on the annual charge too whereas there isn't with Fidelity and II by the looks of it, so is this just a "superclean" deal HL have negotiated, both on the initial and ongoing charge?

grey_gym_sock

dunstonh wrote: »

Skandia, for example, have the Blackrock trackers which are normally 0.2x% TER at 0.1x% e.g. Blackrock Cont Euro Equity is 0.22% on bundled basis but available at 0.12% on unbundled basis with the 0.10% difference rebated. So, the share class is still clean rather than superclean but a rebate is involved.

HL have class 'H' on that fund, at 0.12% (with no rebate required) - is this 'H' new class for blackrock? they have 'H' for 4 more blackrock trackers (ones in the 'core' list), but only 'D' for the remaining blackrock trackers.

see http://www.hl.co.uk/funds/index-tracker-funds/core

jrawle

dunstonh wrote: »

Interesting read. However, part of the problem could be down to different dates being used for snapshots. You would expect the superclean OCF to be the same as the clean OCF apart from the level of discount. Clean funds have been around a while and data suppliers may only update their records quarterly or even half yearly. Whereas superclean are new classes and will have a more recent data snapshot.

I did wonder whether it was something to do with the timing of the data. After all, extra expenses are expenses not a charge, so will vary depending on what costs the fund manager has incurred.

Incidentally, I was looking at the individual pages for each fund, I perhaps confused matter by referring to it as a "table". I wanted to arrive at my own TER figure for each fund.

planteria

koru wrote: »

I wonder if this Invesco class will be available to platforms who use Cofunds, such as II and Charles Stanley?

i would assume, and hope, so.

joerugby

grey_gym_sock wrote: »

HL have class 'H' on that fund, at 0.12% (with no rebate required) - is this 'H' new class for blackrock? they have 'H' for 4 more blackrock trackers (ones in the 'core' list), but only 'D' for the remaining blackrock trackers.

see http://www.hl.co.uk/funds/index-tracker-funds/core

Is this level of clarity for the retail investor really what RDR was meant to deliver?

planteria

it makes you wonder...but is this complexity just while there is a shakeout, and things are going to settle down and be clearer, and simpler?:think: