JP Morgan Asset Management (JPAM) has appointed Hargreaves Lansdown to provide its OEIC managed fund investors with an option to transfer their holdings onto the HL Investment Service.

Up to 33,000 retail managed fund clients representing £765m may elect to transfer to the HL Investment Service, or to an alternative ISA provider of their choice.

The transfer predominantly applies to ISA investors and is the second such transaction between HL and JP Morgan following the 2015 migration.

Chris Hill, CEO, Hargreaves Lansdown, said: “We are pleased to support JP Morgan Asset Management’s decision and look forward to welcoming these new clients to the Hargreaves Lansdown service.”
 
Patrick Thomson, EMEA CEO for JP Morgan Asset Management said: “After due consideration and having worked closely with Hargreaves Lansdown in the past, we concluded they would be best placed to provide a high quality service to clients holding our OEIC managed funds as we cease the administration of ISA accounts.

“Hargreaves Lansdown is a household name and we are pleased our clients will have the opportunity to  access a more comprehensive range of services following this transfer.”