Hargreaves Lansdown News

27.01 / 12:47

Platform Record numbers of Hargreaves Lansdown clients vote in Saba investment trust saga

HL, the UK's largest retail investment platform, said that more than 41% of its clients who hold shares in Herald investment trust (HRI) turned out to vote in the first of Saba's seven attempts to replace the current board of each of the trusts, leading to a defeat for the Manhattan hedge fund. This figure represents significantly more than previous recent turnouts at other investment trust general meetings. In December, CQS Natural Resources attracted just 10.2% shareholder turnout at a continuation vote it overwhelmingly won, according to the Association of Investment Companies. He...

23.01 / 13:27

UPS CEO Financial heavyweights join forces against chancellor's IHT/pension plans

The big name firms, which collectively manage £430bn of investments for 3.4 million people, joined forces to oppose the methodology behind the tax policy which is due to come into force in April 2027. It was first announced in the Autumn Budget and has been criticised for being overly complex. Michael Summersgill is CEO at AJ Bell, Don Olley heads Hargreaves Lansdown, Steven Levin is CEO of Quilter and ii is headed up by Richard Wilson. Reeves to host meetings with financial services heavyweights over sector and UK growth plans The joint letter said while decisions on raising ta...

08.01 / 12:23

UPS CEO track Hargreaves removes Trojan Ethical Income from Wealth Shortlist following manager departure

According to Joseph Hill, senior investment analyst at HL, Ure is an «experienced investor» who has contributed significantly «as manager of this fund, but also as head of responsible investment until the end of 2022». Former Sky Betting CEO Richard Flint lined up for Hargreaves Lansdown chair role «In this role in particular, he was important in establishing the ESG policies and processes now in place,» Hill noted. In addition, he added that Blake Hutchins, who has been appointed manager of the fund, «does not have his own track record in managing an ethical fund». Hutchin...

15.10 / 08:27

Platform Election Hargreaves Lansdown shareholders approve £5.4bn takeover despite some pushback

Harp Bidco, a private equity consortium comprised of CVC Capital Partners, Nordic Capital and Abu Dhabi Investment Authority, made several bids back in the summer for the platform group, with the HL's board eventually agreeing to an offer in August. Hargreaves Lansdown agrees to £5.4bn PE takeover offer Yesterday (14 October), an 87% majority of HL shareholders voted in favour of the deal. However, 13.4% of shareholders voted against the offer. Shareholders will now have to decide if they want to participate in Bidco's ‘alternative offer', whereby eligible HL shareholders may elect...

29.08 / 11:16

Enterprise Stephen Lansdown-founded private equity firm Earth Capital shuts down

In an email seen by Investment Week, the firm said Earth Capital has been deregulated and is no longer an investment manager. The firm applied to cancel its authorisation on 1 August, according to the Financial Conduct Authority's register. It was originally granted authorisation in August 2019. In the email, Earth Capital stated: «If you are enquiring about your Enterprise Investment Scheme (EIS) investment or are representing a client who has invested in the STIL EIS 1, 2 or 3, please note that the fund has now closed.» Hargreaves Lansdown co-founder claims takeover 'not the grea...

29.08 / 11:11

Progressive reports Hargreaves Lansdown co-founder claims takeover 'not the greatest deal in the world' - reports

Lansdown, who co-founded HL alongside Peter Hargreaves in 1981, told The Times the deal: «Gives the company a new lease of life. In a sense, it is not the greatest deal in the world, but it takes the company into another era when it can progress and grow». His comments follow HL's recent agreement to a £5.4bn takeover on 9 August by Harp Bidco, a private equity consortium led by CVC Capital Partners. Hargreaves Lansdown agrees to £5.4bn PE takeover offer The offer comprises a cash consideration of 1,110p per HL share and a dividend of 30p per HL share for the year ended 30 June 2...

26.06 / 16:07

markets UPS Apple NVIDIA Trade All eyes are on Nvidia's stock, so what's been going on?

Nvidia shares rebounded Tuesday, halting a three-day skid that had surprised many investors and wiped away more than $400 billion in market value

18.06 / 14:33

UPS Platform Hargreaves Lansdown receives second bid from PE consortium for £5.4bn

This is an increase from the previous bid of £4.6bn, which the FTSE 100 company rejected last month as the platform said it undervalued the company. In a stock exchange notice today (18 June), Hargreaves Lansdown said the consortium increased its cash offer to 1,140p per share – up from the previous 985p – 30p of which will comprise a final dividend for the financial year 2024. HL shareholders will also be given the option to choose a «rollover equity alternative» in respect of some or all of their shares, the platform explained. Hargreaves Lansdown rejects bid from private equity ...

23.05 / 08:33

Platform BlackRock Department Hargreaves Lansdown rejects bid from private equity consortium

The consortium comprises of CVC Advisers; Nordic Capital XI Delta; SCSP (also known as Nordic Capital); and Platinum Ivy B 2018 RSC, a wholly-owned subsidiary of Abu Dhabi Investment Authority managed by its private equity investment department. Hargreaves said the consortium's second bid – which was made on 26 April 2024 — offered 985 pence per ordinary share in the platform – valuing the company at more than £4.6bn, based on the total number of shares at its annual general meeting in October 2023. Hargreaves Lansdown partners with BlackRock for multi-asset index funds launch HL's...

08.05 / 10:37

markets wellness Hargreaves Lansdown removes Richard Ford fund from Wealth Shortlist following retirement

Ford currently serves as the group's co-head of the Broad Markets Fixed Income team, as well as manager on several portfolios. He is retiring from the business after 33 years, effective from 31 August. Morgan Stanley confirmed to HL that there would be «no changes made to the investment process of philosophy of the fund» following Ford's departure, and that no other team exits are expected in the near future. Hargreaves Lansdown triples number of new clients in three months But despite this reassurance, Hal Cook, senior investment analyst at Hargreaves Lansdown, said the firm's «co...

15.03 / 18:07

UPS awards Experts show Investigations Reckitt to challenge $60 million baby formula verdict, shares sink

(Reuters) -Reckitt Benckiser said on Friday it would pursue all options to have a $60 million verdict overturned in a lawsuit related to its Enfamil baby formula in the United States as it stood by the safety of all its products.

06.03 / 17:21

markets Platform economy Spring Budget 24: Sterling and gilts hold steady as platforms enjoy GB ISA boost

At 12:30pm, when Chancellor Jeremy Hunt was scheduled to begin his address, the yield on UK 10-Year gilts sat at 4.130% and at remained largely steady throughout the chancellor's speech, according to data from MarketWatch. Since then, it has dropped from a spike at 4.151% down to 4.092% at the time of publishing. Spring Budget 24: UK economy to grow more in 2024 and 2025 than previously forecast The yield on one-, three- and five-year gilt yields followed a similar pattern. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said the chancellor wanted to «to avo...

09.02 / 20:10

COST CEO Strategy Apple social innovations rights Meta’s stock is surging. What’s behind the jump?

Meta surged more than 17 per cent on Friday as the Facebook parent’s first dividend declaration and robust results increased expectations of strong returns from its investments in “metaverse” technologies and artificial intelligence infrastructure.

25.01 / 11:45

funds Fundsmith Equity Baillie Gifford American tops December regular savings picks amid growth resurgence

Investors have been topping up their investments in US and global equity funds.

24.01 / 17:19

Investment trusts Diageo Finsbury Growth & Income Nick Train vows to stick to his guns as Finsbury Growth & Income bets big on AI

Nick Train (pictured) addressed shareholders at Finsbury Income & Growth's annual general meeting in London on Tuesday (23 January).

24.01 / 11:55

companies Quilter Inflows Q4 Quilter assets jump 5% as net inflows into core business recover

Steven Levin (pictured), CEO of Quilter

22.01 / 13:27

regulation UBS Jefferies companies financial conduct authority AJ Bell record high Jefferies lifts AJ Bell valuation after assets hit record high

Jefferies’ investment thesis for the company lies on the exposure of the platform to the large UK advisor market and to the smaller, but higher-margin, D2C market.

16.01 / 13:20

Europe UK Investment trusts Diageo burberry Train defends concentration despite persistent Finsbury Growth & Income underperformance

Nick Train (pictured) said the portfolio has been constructed around companies in the UK stock market that are poised to benefit from AI, software and luxury consumption trends.

11.01 / 09:15

funds People moves TSMC shortlist Hargreaves Lansdown removes abrdn Asia Pacific Equity fund from Wealth Shortlist

“Our analysis suggests that, for several years, the manager has not consistently added value through stock selection,” Ince said.

11.01 / 09:15

People moves PineBridge Investments names intermediary distribution boss for EMEA and APAC

Nicolas Kopitsis (pictured), joined PineBridge in 2021 as head of wealth management for Asia.

10.01 / 13:40

Jefferies companies Platforms Jefferies retains 'Buy' rating for Hargreaves Lansdown

In 2021 and 2022, Hargreaves earned £50m in each year on client cash, and the analysts estimated the income will grow to around £270m for the 2024 financial year.

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