Hargreaves removes Artemis small-cap fund from 150

Hargreaves Lansdown has removed the Artemis UK Smaller Companies fund from its Wealth 150 list.

Meera Patel, senior analyst at Hargreaves, says the vehicle has underperformed other funds in its sector recently, suffering from its bias towards the resources sector. Patel says the fund has also struggled due to liquidity problems and poor stock-picking by managers John Dodd and Mark Niznik. While removing it from its 150 list, the group does not believe existing investors should sell out of the fund. "As the period of disappointing performance has been relatively short thus far, we believe that existing investors should consider keeping faith in the management team for the time...