View more on these topics

Hargreaves cuts Invesco’s UK aggressive fund from Wealth 150

Hargreaves Lansdown has cut the £145m Invesco Perpetual UK aggressive fund from its Wealth 150 list of recommended funds, citing “deteriorating performance”.

The fund was taken over by manager Stephen Anness in June 2008 when previous manager Ed Burke retired early, following underperformance.

HL says: “Stephen Anness has maintained a cautious approach, favouring larger, more defensive, businesses such as those in the healthcare sector.

“Initially, the fund kept pace with the sector, delivering average returns. However, over the last six months the fund has lagged its peers, and our analysis points to Stephen Anness’ stock picking as the main reason behind the deteriorating performance.”

HL stresses the Wealth 150 cut is not a recommendation to sell the fund, but it calls for a performance improvement before considering putting the fund back on the list.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm