Hargreaves Lansdown eyes foray into asset management arena
Hargreaves Lansdown, which manages £5bn in assets within its discretionary and managed unit, is expanding its multi-manager funds and mulling addition of passive products, solutions, and other offerings in a bid to foray into the asset management sector.
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The company could recruit external fund teams and market its services to advisory businesses for the asset management push, reports Investment Week.
The platform has started a three-week offer period for its multi-manager European fund, as well as is due to introduce an emerging markets multi-manager fund in the coming months.
The firm is also looking to offer more solutions to cash in on the changes to pensions freedoms, and is eyeing a high income offering for launch over the next 12-18 months.
The company is expected to launch its D2C discretionary service at the end of 2015.
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By GlobalDataChief executive Ian Gorham remarked, "We want to take advantage of the demand for Hargreaves Lansdown as a fund management brand."
