View more on these topics

HL calls for switch on Scottish Widows income funds

Hargreaves Lansdown has suggested that investors switch out of both the Scottish Widows UK equity income and Swip UK income funds.

Both funds are perennial underperformers and currently sit bottom quartile in the IMA UK equity income sector over three years.

Hargreaves Lansdown says the £693m Scottish Widows UK equity income fund, which has been managed by Richard Dunbar since June 2000, has seen a deterioration in its stock selection within the fund and that underlying performance is likely to remain poor. The fund has fallen 17.5 per cent over three years, compared to an average fall of 10.6 per cent for the sector.

Chris Fontela took over the management of the £66.4m Swip UK income fund from Dunbar in January 2010, however Hargreaves Lansdown says that the fund has failed to improve its returns and is currently ranked 101 of 104 funds in the sector since he took over.

In both cases the firm recommends a switch into the Artemis income fund, which is managed by Adrian Frost and Adrian Gosden and is currently top quartile in the IMA UK equity income sector over three years.

Recommended

6

FSA exodus as resignations double

The Financial Services Authority saw staff resignations rise by 128 per cent in the second quarter as the Government announced plans to break up the regulator. A total of 121 staff quit from the start of April to the end of July, compared to just 53 who left in the same period last year, according […]

FSA probing Coutts over AIG fund sales

The FSA has launched an investigation into Coutts & Co over the sale of the AIG enhanced fund. Royal Bank of Scotland, which owns Coutts, revealed last week as part of its interim results for 2010 that the investigation surrounds the sale by Coutts & Co of the AIG premier access bond enhanced variable rate […]

Can the mortgage market start looking to the future?

It is hard to believe but we are now almost three years down the road since the beginning of the credit crunch. Northern Rock has its own unique place in the history of this period – one that it will undoubtedly prefer not to have – but the news that the “bad” part of the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com