Hargreaves Lansdown, whose shares took a beating in June as nearly a quarter of its clients were exposed to Neil Woodford's suspended fund, advanced nearly 12 per cent after a forecast-beating rise in fullyear assets.
The fund supermarket
saw net new business inflows fall 4% to PS7.3 billion in the year to June 30, which included a month of the Woodford fund suspension.
The fund supermarket
saw net new business inflows fall 4% to PS7.3bn in the year to June 30, which included a month of the Woodford fund suspension.
COMPANIES Fund supermarket
Hargreaves Lansdown reported a rise in assets under administration in a "very challenging" financial year.
And fund supermarket
Hargreaves Lansdown saw shares drop 5% in the FTSE 100 after it said it could no longer include the Woodford Equity Income Fund or Woodford Income Focus Fund on its 'Wealth 50' list, which is used by thousands of customers to decide where to invest.
The local brokerage house also operates the first and only online fund supermarket
in the country, called COL Fund Source, which allows clients to invest in various mutual funds using their online accounts.
Hargreaves Lansdown has cut costs for more than half a million DIY investors as part of a major shake-up of fees to meet new rules.
An online fund supermarket
is set to open in Korea as early as March 2014.
[ClickPress, Wed Mar 06 2013] Almost a third (31 per cent) of DIY investors aren't aware that the way they buy financial products - direct from a provider or from a platform or fund supermarket
- can impact the cost of their investment, according to new research from Prudential*.
There are generally five types of arrangements used in ERISA plans that are commonly referred to as brokerage windows: 1) an open window, which allows a participant to purchase any or almost any security traded on an exchange; 2) a mutual fund window, which allows a participant to purchase any or almost any registered open-ended mutual fund; 3) a supermarket or recordkeeper window, which allows a participant to purchase any fund or security maintained in a fund supermarket
or on a recordkeeper's system; 4) a fund family window, which allows a participant to purchase any mutual fund offered by an issuer; and 5) a supplemental window, which makes available a selected set of investment alternatives beyond a set of core designated investment alternatives.