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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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