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Hargreaves Lansdown axes Mobius fund from Wealth 150

Hargreaves Lansdown has dropped Mark Mobius’ Templeton global emerging markets fund from its Wealth 150 list following disappointing performance.

HL acknowledges glimpses of good performance but says the fund has struggled to deliver consistent results and attributes this to poor stock selection.

The company considers that the fund’s bias to energy, in particular, oil and gas, has been detrimental as the sector has suffered with softer commodity prices. It believes its significant exposure to financials has also proven to be a poor decision with the sector likely to suffer further on a global scale.

Head of research Mark Dampier says Aberdeen’s emerging markets fund, managed by London-based Devan Kaloo is a superior alternative. The fund’s focus is on good quality management and conservatively run businesses with good cashflow.

Dampier says: “The fund has been resilient in challenging economic conditions, which is testament to the skills of Aberdeen’s emerging markets team. In the longer term, we believe this fund has the potential to deliver superior returns.”


‘Rift’ at Cobalt

A Cobalt Capital director has admitted a rift in the senior management and has called for directors to pull together. Director Julian Ingalls would not comment on immediate concerns over the brokerage but says: “Senior management and partners have not seen eye to eye and have disagreed about several things. People need to pull together in situations like this.”

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]


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