The firm says the Rathbone fund, managed by Carl Stick, has struggled enormously during the market turmoil and says stock picking has been poor. It says the fund has also suffered from its exposure to smaller companies which have underperformed in difficult climate.
Hargreaves Lansdown has also added the M&G strategic bond to the list. The fund is managed by Richard Woolnough, whose M&G optimal income fund already features on the Wealth 150.
The firm does not believe the corporate bond market is entering a bubble and says there is significant scope to move upwards from current levels.
On Woolnough, it says: “He has made the right calls to stay away from the banks during their most troubled times. Our quantitative analysis also shows his credit selection has also been exceptional over time. The fund also differs from others in its peers with flexibility to deviate away from its core investment grade mandate.”