Hargreaves Lansdown criticises Manek Growth

Stock selection in the Manek Growth fund has been blamed for the funds poor performance by Hargreaves Lansdown.

Meera Patel, senior analyst at Hargreaves Lansdown, says even though the fund has been exposed to “resilient” sectors over the past year such as software services, technology hardware, and oil & gas sectors, “stock selection in these areas has been poor”.

She says: “We have previously suggested that investors in the Manek Growth fund consider switching to alternative funds which we felt had superior prospects.

“During a recent review of the UK All Companies sector the fund once again came under the spotlight for its poor performance.

“Over one, three and ten years, it ranks as the worst performer in its peer group.”

Patel says investors should not settle for “second-rate performance”.

Manek couldn’t be reached for comment at the time of writing.

To read the full note, please click here.

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