Mobius fund dropped from Hargreaves' Wealth 150

Hargreaves Lansdown has removed Templeton's Global Emerging Markets fund, run by emerging markets gu...

Hargreaves Lansdown has removed Templeton's Global Emerging Markets fund, run by emerging markets guru Mark Mobius, from its Wealth 150 on the back of disappointing results. The company noted the five-year-old fund's pockets of good performance but blamed poor stock selection - namely a bias to energy and significant holdings in financials - for inconsistent returns. Head of research Mark Dampier says: "While the energy sector could pick up once global demand recovers, the outlook for the global financial sector remains uncertain and we believe it could suffer further. In light of this ...