Hargreaves Lansdown is to transfer more than £400m of multi-manager assets from Mark Barnett's Invesco Perpetual income funds to Neil Woodford's new UK equity income offering.
The D2C platform giant's multi-manager range had £430m invested in both the Invesco Perpetual Income and High Income portfolios as of 31 March, with the majority in the HL Income & Growth Trust, run by Lee Gardhouse. Over £300m is invested in the two Invesco funds via the HL Income & Growth trust - itself a £1.86bn portfolio - with a further £44m in the HL Balanced Managed trust, £57.5m in the HL Special Situations trust, and £12m in the HL Equity & Bond trust. Hargreaves' multi-manager range will transfer the money when Woodford's income fund opens for business next month. Hargrea...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
