Hargreaves launches super low-cost tracker on Vantage

Hargreaves Lansdown has added an “ultra-low-cost” UK tracker fund to its Vantage platform.

The SWIP FTSE All-Share Index will carry an annual management charge of 0.07%, and a total expense ratio of 0.11%.

Minimum single investment is set at £1,000 per holding, and a minimum monthly investment of £50 per holding

The announcement comes after IFAonline revealed Hargreaves were to charge up to £2 per month for some tracker funds on Vantage.

Head of advice Danny Cox [pictured] said Hargreaves has responded to the needs of investors looking for low cost tracking funds.

Cox said: "Our aim is to be the best place to buy any investment directly in the UK. In 2010 we saved our clients £180m in fund charges. We recently improved our share dealing tariff and service. Extending our coverage of tracker funds and offering a wider choice is therefore complementary and important."

Hargreaves also announced the addition of 12 Vanguard funds onto Vantage, with AMCs between 0.15 and 0.33%.

New funds added to Vantage:

Equity funds

FTSE U.K. Equity Index

FTSE U.K. Equity Income Index

FTSE Developed World ex-U.K. Equity Index

FTSE Developed Europe ex-U.K. Equity Index

U.S. Equity Index

Fixed Income funds

U.K. Inflation-Linked Gilt Index

U.K. Long Duration Gilt Index

Blended Index funds

LifeStrategy^TM 20% Equity Fund

LifeStrategy^TM 40% Equity Fund

LifeStrategy^TM 60% Equity Fund

LifeStrategy^TM 80% Equity Fund

LifeStrategy^TM 100% Equity Fund