Hargreaves Lansdown - tomorrow's winners

StevieJ

sabretoothtigger wrote: »

Someone asked me about Agrisar performance charges. I replied that it seemed to come to be 15% of any outperformance, which means if they did 10% more then the index they'd add on another 1.5% charge on just profit made which I dont think is massive


JPM performed better, but its not just about performance. Obviously commodities have boomed, if you think thats how it'll always be then stick to JPM I guess because they got that right.
If you think oil could fall then you might want the other fund, I just thought he had distributed it quite squarely

If it was always about picking whatever had just performed well, that'd be pretty simple to do


None of them is perfect because I dont really spot much silver exposure there and it just doubled
JPM, the famous shorters of silver ironically has

which doesnt make silver, it buys production contracts so its a small play on ascending prices

Do you think it is OK for a fund dealing in commodities should have a performance charge linked to a puny LIBOR rate? that goes for all those absolute funds making performance charges.

sabretoothtigger

I looked at the agrisar one last night because I do hold that. Its set against global equity index, libor does seem ridiculous if true but its hard to pin down the exact calculation on this.

I dont like small print conditions set out to trip me up like the credit cards do so it does put me off. Its LIBOR plus 4% pa so not quite that low but its concerning yea.


The other point I was going to make was that the Investec outperformed JPM upto the last thee months of the year, in a flat to mixed market it does seem the better fund so I think I assessed it right on that part

I got it this year just before the markets fell, I didnt know they would but it proved the right cautious fund for me. I didnt lose any money on it but cashed it in to put into funds which had fallen like the tech fund, now recovered








^^^^ Thats the simplified bit apparently, in a 139 page document is the proper explanation which I'll link to below.
Please tell me if you get any better understanding, my brain hurts :laugh:




http://img689.imageshack.us/img689/4048/fullpi.png
http://img209.imageshack.us/img209/7195/fuu2.png
http://img716.imageshack.us/img716/9214/fuu3.png
http://img815.imageshack.us/img815/5400/fuu4.png


Performance fee here also seems to be on the outperformance not the entire positive gain which is something at least



Link to LIBOR rates. http://www.homefinance.nl/english/international-interest-rates/libor/poundsterling/libor-rates-1-month-gbp.asp
Surely this isnt right but it appears roughly +5.073% is the hurdle set this year?

Thats waaaay too low to start charging any extra on, the fund started in 2008 when LIBOR would have been much more. Now its terrible though Ive not done the full equation, watermark, etc whatever

talexuser

I was very interested in the comments about Blackrock has anyone still got Absolute, and when did you ditch it and for what? I jumped for Stand Life Global Absolute.

mutley74

talexuser wrote: »

I was very interested in the comments about Blackrock has anyone still got Absolute, and when did you ditch it and for what? I jumped for Stand Life Global Absolute.

I diteched all my Blackrock Absolute earlier last week. Transferred all my cash from the sale to Junior Oil/ First State Emerging market leaders / Neptune Gt Russia and Schroders UK Alpha.
I got fed up with the poor performance of this fund, IMHO if a fund like this one cant even make some sensible gains in the past 6mths i cant see how it can beat the market in the future (now i bet i am proven wrong and it turns out to be a winner:eek:)

Oil - if anyone wants to invest in Oil the Junior Oil fund is well recommended by HL and over the past 6mths has shown decent gains. This is one i am investing in the long term:)
(i also like the Junior Gold fund - making sure my SIPP has some holding in this one too)

(these are just my opinions and not recommendations, i am not an IFA/FA so suggest people do their own research)

mutley74

has anyone else every noticed that Mr Dampier from HL seems to have enough cash to invest in just about every fund he recommends or writes about! (i really wonder how true he is to his word?)

utigers

Well the Artemis fund has just been taken off the 'Wealth 150'

Tomorrow never came with that one.

talexuser

utigers wrote: »

Well the Artemis fund has just been taken off the 'Wealth 150'

Tomorrow never came with that one.

And it's about time, I ditched over a year ago. And it's still in some intermediaries recommended lists! :eek:

utigers

talexuser wrote: »

And it's about time, I ditched over a year ago. And it's still in some intermediaries recommended lists! :eek:

Its the reason I posted it here..........I still hold it

Fortunately I have AXA UK Select Opps, which balances out the recent underperformance, but it is still 12% of my portfolio.

I do struggle to sell a fund because it has seen me right over a long period, its 5 year performance isnt 'bad' but I am waiting and waiting for this one to do well. It has been a problem fund for a while, it just makes you wonder if mangers do go off the boil completely and how long to stick with them for.

Derivative

It's very easy to pick winners with the benefit of hindsight.

Take 500 people and get them to flip coins.

One of them will probably flip 7 heads in a row.
One of them will probably flip 7 tails in a row.

It's easy to pick out the 7-header after the fact and flaunt them as a performer.

dunstonh

EdgEy wrote: »

It's very easy to pick winners with the benefit of hindsight.

Take 500 people and get them to flip coins.

One of them will probably flip 7 heads in a row.
One of them will probably flip 7 tails in a row.

It's easy to pick out the 7-header after the fact and flaunt them as a performer.

I had someone who once asked me to restrict my choice to funds on the 150 list. I said no and gave my reasons. He then decided to split the portfolio and went 50/50 with my choice vs Wealth 150. He now totally ignores the 150 as my choice has done better. This included the Artemis strategic assets fund which had no right to be on that list to begin with.

When a "research" list is actually a marketing list then it should not be relied on.