The UK-listed wealth management and advisor firm Hargreaves Lansdown has revealed details of the 27 funds on its Wealth 150+ range with specially-negotiated annual management charges.

The UK-listed wealth management and advisor firm Hargreaves Lansdown has revealed details of the 27 funds on its Wealth 150+ range with specially-negotiated annual management charges.

Hargreaves Lansdown said in a statement that it had lowered management charges on its funds for the Wealth 150+ down to an average of just 0.54 per cent.

For the wider Wealth 150, fund costs have been reduced to an average of 0.66 per cent, compared to the standard unbundled price of 0.75 per cent.

According to Hargreaves, every single fund manager on the Wealth 150+ list, which includes funds from Aberdeen, Artemis, M&G, Newton, Old Mutual and Threadneedle, has outperformed the appropriate benchmark over the course of their career.

“We have slashed the cost of investing by a quarter. On a typical portfolio (£30,000) an investor will be nearly £1,000 better off after 10 years. We have used this regulatory change to put the squeeze on fund manager pricing and lead competition in the market. We were one of the pioneers of discount broking back in the 1990s and Hargreaves Lansdown clients continue to benefit from our willingness to fight for the best possible deals from fund groups on their behalf," said Danny Cox, head of financial planning at Hargreaves Lansdown.

In January, Hargreaves Lansdown announced it was reducing the charges on 27 of its  funds, which will have a lower AMC of 0.54 per cent, in comparison to the standard market AMC of 0.70 per cent.

As a result of the Retail Distribution Review's ban on trail commission, a number of firms, including Fidelity, Barclays Stockbrokers and Hargreaves Lansdown, have announced new charges as they move to the new model, which does not include commissions, fees, or rebates, ahead of the April deadline.

Last month, Hargreaves Lansdown reversed its controversial decision to increase investment trust fees on its platform. The U-turn came as Hargreaves announced in its half year interim report that total assets under administration had risen to £43.4 billion ($70.6 billion), up 43 per cent from 31 December 2012.

The firm also saw record revenues and profit before tax for the six months from 1 July 2013 to the end of December 2013. Revenue rose by 13 per cent to £158.4 million, while pre-tax profit was up 11 per cent to £104.1 million. Profit margins fell slightly from 65.6 per cent in 2012 to 65.2 per cent at the end of December 2013.