27th May 2014
Hargreaves Lansdown says it has obtained the best price of any broker for the new Neil Woodford fund. HL Vantage says that charges on the CF Woodford fund will be 0.6% which HL says is cheaper than the 0.75% offered from many of its rivals.
Mark Dampier, head of research, Hargreaves Lansdown says: “Investment returns are of course a function of performance and cost. Neil Woodford has one of the best track records when it comes to adding value for investors. Moreover Hargreaves Lansdown has significantly reduced the cost of investing in his new fund by negotiating hard on behalf of Vantage investors, and then passing all those savings on. The upshot of this is investors have access to a top flight fund manager at a bargain price. I have no hesitation in adding the fund to our Wealth 150+ list of favoured funds.”
HL says the launch price is £1 and the offer period for the new fund opens on 2 June. HL must receive instructions by 5pm on 18 June.
The estimated yield at launch is 4.0% and the fund will pay income quarterly, on the following dates:
31 Mar; 30 Jun; 30 Sep; 31 Dec. The first income payment will be made on 31 December 2014.
HL says the standard annual charge for this fund is 0.75%. HL clients will invest in a version of the units with a 0.65% annual management charge, and in addition receive an annual loyalty bonus of 0.05%, bringing the overall annual cost down to 0.6%.
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