Hargreaves adds Liontrust Special Situations to Wealth 150

Hargreaves Lansdown has added Liontrust's Special Situations fund to its Wealth 150 list of favourite funds, in the second win this week for the £1.2bn manager.

Special Situations joins Liontrust's European Absolute Return fund, which was added to the list in mid-2009. Liontrust also won favour this week with Skandia, which used a number of portfolios to buy a £19m stake in its Credit Absolute Return fund. Anthony Cross and Julian Fosh, managers of Special Situations, use the Economic Advantage investment process to pick 40 to 50 companies with attributes their competitors find difficult to replicate. The managers reason high barriers to competition such as intellectual property, good distribution networks and high recurring income should ...