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New HL MM fund
I see that HL are taking on Royal London… undercutting them ever so slightly with an OCF of 0.06%. Both INC and ACC options, although I'd not put too much store in their claim about "one of the highest expected yields in the market". And I certainly wouldn't be holding it on their own platform!
Still, perhaps an indication that there's a growing market for people looking to de-risk right now…
https://www.hl.co.uk/funds/hl-funds/hl-money-market-funds
Comments
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Still, perhaps an indication that there's a growing market for people looking to de-risk right now…
Probably people have been getting fed up with other defensives being so poor for so long now. Although ironically, there are increasing comments that suggest that it is a better time to buy them now.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Yeah, the reputation of bond funds as being classic defensives has certainly taken a battering over the past few years!
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Can you actually have it on a non-HL platform? I can't see it on ii or Freetrade, and the HL blurb states "Exclusive to HL clients"
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Until it shows it can at least match or exceed RL, I don't see the point of it, unless you are HL that is!
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Difficult not to laugh at "0.06% ongoing charges figure, the lowest of any Money Market Fund in the UK (HL annual account charge of 0.35% also applies)".
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Plus a fee to buy, and another fee when you sell.(See discussion below)About the only advantage I could see was the 'same day' availability of funds to invest. If you place a sell order by 9am you can use the proceeds to fund the purchase of something else the same day, as if what you hold in the MMF is uninvested cash.
With HL's fees I don't expect there will be a situation I'd want to do that though.
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After Woodford why would anyone trust HL again?
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Many evidently choose not to characterise HL's entire 2026 operations according to their poor judgement back then?
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Surprised they have not done it before. All three of my current DC providers have their own STMM funds.
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As far as I can see, it is an OEIC fund, so no buying or selling charges with HL. ( I think)
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