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HL axes Artemis funds from Wealth 150

Hargreaves Lansdown has removed three Artemis funds from its Wealth 150 fund range.

Artemis European growth, capital and global growth use the SmartGarp process created by fund manager Philip Wolstencroft but in the last 12 months, all three record bottom-quartile returns in their sectors.

Hargreaves Lansdown senior analyst Meera Patel says: “With such upheaval in stockmarkets, the SmartGarp system has not been successful in the past year or so and changes implemen-ted by Artemis are not showing signs of working. We do stress that existing investors in the funds should continue to hold.”

Artemis was unavailable for comment.


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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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