As Hargreaves Lansdown launches the Wealth 50 - a more focused service to replace the Wealth 150 - which funds did not make the cut?
The Wealth 150, which launched in 2003 as a grouping of the funds Hargreaves Lansdown deemed to be the best in each of the main sectors - has been ditched in favour of the streamlined Wealth 50, which launches today (9 January).
The new service launches with 60 funds on its list, instead of the 85 funds in the Wealth 150, "to make it even easier for clients to find what they're looking for".
Hargreaves Lansdown explained in the prospectus: "The Wealth 50 is built using the same comprehensive research as the Wealth 150, but is more focused, with fewer funds. This means some funds that were on the Wealth 150 don't feature on the Wealth 50.
"We still think they're great funds, but to make a shorter list we had to raise the bar and make sure only our higher-conviction funds feature on the Wealth 50.
"Just because a fund hasn't made the cut it doesn't mean investors should make any changes to their portfolio, as long as the fund still meets their objectives. We'll be writing to all clients in these funds to tell them their fund isn't on the Wealth 150 and to explain why."
The funds excluded from the Wealth 150:
• Artemis Strategic Assets
• Jupiter European
• Old Mutual UK Mid Cap
• BlackRock Gold & General
• Legal & General All Stocks Index Linked Gilt
• Old Mutual UK Smaller Companies
• CF Odey Opus
• Legal & General Global Inflation Linked Bond
• Rathbone Income
• Fidelity Special Situations
• Legal & General UK 100
• Standard Life Investors Global Smaller Companies
• First State Global Infrastructure
• Liontrust Special Situations
• Standard Life Investments UK Equity Unconstrained
• Franklin UK Managers' Focus
• M&G Optimal Income
• Standard Life UK Smaller Companies
• Invesco Perpetual Corporate Bond
• M&G Strategic Corporate Bond
• Stewart Investors Asia Pacific Leaders
• JO Hambro Continental European
• M&G UK Inflation Linked Corporate Bond
• JO Hambro Japan
• Marlborough Special Situations
• JO Hambro UK Equity Income
• Old Mutual UK Alpha